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.
