Samsung flagged better second-half results after posting a 60 percent drop in first-quarter profit, pointing to higher expected sales of memory chips and smartphones.
Samsung Electronics on Tuesday flagged better second-half results after posting a 60 percent drop in first-quarter profit, pointing to higher expected sales of memory chips and smartphones.
The world’s top maker of semiconductors warned however that there was more short-term pain to come in the second quarter, with memory chip prices likely to decline further before demand rebound as data centres re-stocked later in the year.
“For the second half of 2019, the company expects memory chip demand for high-density products to increase, but uncertainties in the external environment will persist,” the South Korean tech giant said in a statement.
Hit by falls in chip prices and slowing demand for display panels, Samsung posted operating profit of KRW 6.2 trillion ($5.4 billion) in the January-March quarter, in line with its guidance issued earlier this month.
Revenue fell 13.5 percent to KRW 52.4 trillion, also in line with its earlier estimates.
Samsung’s core semiconductor business booked a 64 percent fall in operating profit to KRW 4.
