Higher profit for Samsung due to memory chips

Samsung reported a 51 percent increase in quarterly profit on Thursday, largely due to robust demand for data center memory chips, but warned that shortages will continue.

Samsung’s operating profit alley to 14.1 trillion won ($11.1 billion) for the quarter ended March 31, from 9.38 trillion won a year earlier.

That was the highest first-quarter profit since 2018, and in line with the company’s estimate earlier this month.

Operating profit in Samsung’s mobile and network businesses came in at 3.8 trillion won in the first quarter, up from 4.4 trillion won a year earlier.

Samsung ramped up production of its affordable Galaxy A series in the quarter to better compete in the segment. Smartphone market share in the period jumped to 24 from 22 percent a year earlier.

Source: Mobile – Emerce by www.emerce.nl.

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