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Samsung On A Roll Sales Up 17% Profits Top $15 Billion

Samsung Electronics is on a roll with the South Korean Company forecasting a 17.7% surge in sales, they are also tipping an A$15.37-billion-dollar profit for the quarter.

According to its latest earnings guidance said that the profit forecast represents a 50.03 percent increase from a year earlier.

The figure topped estimates consensus of among securities firms compiled by market tracker FnGuide.

The Korean Herald said that if the preliminary result stands, it would mark Samsung’s highest quarterly revenue ever.

Since hitting the 70 trillion won mark for the first time in the third quarter last year, the company has maintained the growth momentum.

Missing from the forecast was a breakdown of divisions this is expected later this month.

The Korean firm, which produces DRAM and NAND memory chips, seems to have benefited from solid chip demand from consumers despite the recent price drop in semiconductor chips, according to analysts cited by Reuters.

DRAM prices could drop in Q2 2022 due to inflation and the continuing war in Ukraine; NAND price is expected to rise approximately 5% to 10% in the second quarter of this year following a raw material contamination issue at a joint-venture facility of Japan’s Kioxia and the U.S-based Western Digital, which disrupted NAND flash production recently.

Samsung confirmed that sales of the Galaxy S22 series are likely to exceed 1 million units in South Korea by the end of this week.

The firm is also expected to have shipped more than 6 million units of the S22 series by the end of March after its launch in February.

The Apple Studio Display does lend quite a few design aspects to the Samsung Smart Monitor M80B
Credit: Willis Lai/Foundry

Analysts offer a rosy outlook for the company’s performance in the remaining year, citing a potential rebound in chip prices.

“Amid limited supply, demand for memory chips is expected to recover, especially from data centres,” said Eo Kyu-jin, an analyst at DB Financial Investment.

“Starting from NAND in the second quarter to DRAM in the third quarter, rising chip prices will drastically improve Samsung’s earnings from the third quarter.”

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