Samsung Electronics Co Ltd forecasted strong demand for memory chips in the second half and a recovery in the mobile market to 2019 levels, in a sign the global economy is getting back on track from the coronavirus pandemic.
Electronics Co Ltd forecasted strong demand for memory chips in the second half and a recovery in the mobile market to 2019 levels, in a sign the global economy is getting back on track from the coronavirus pandemic. The world’s top maker of memory chips and smartphones posted a 54% jump in operating profit for the second quarter, its strongest result in more than two years, supported by high chip prices and better than expected demand. “For the second half, market conditions are expected to be favourable for the component business,” Samsung said in a statement. “Memory demand will likely be buoyed by new smartphone model launches, with wider 5G availability driving growth.” The company cautioned that a global shortage of non-memory chips still poses a risk to forecasts, while uncertainties related to COVID-19 and geopolitical tensions are likely to persist.
