Samsung Elec Q1 operating profit jumps 51% on solid chip demand -Breaking
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© Reuters. FILE PHOTO – The Samsung Electronics logo is displayed at the office in Seoul, South Korea on March 23, 2018. REUTERS/Kim Hong-Ji2/2
Joyce Lee, Heekyong Yang
SEOUL (Reuters -Samsung Electronics Co Ltd posted a 51% increase in its quarterly profit on Thursday. This was due to strong data center demand for memory chips with high-margin values.
According to the top manufacturer of memory chips worldwide, operating profit rose from 9.38 trillion won in the previous year to 14.1 trillion won (11.1 billion) during the quarter ending March 31, a rise of nearly one-third. The company estimated that 14.1 trillion dollars was earned earlier this month.
Record revenues rose 19%, to an unprecedented 77.8 Trillion won.
Analysts believe that Samsung (KS)’s focus on higher-margin products would limit shipments. It would help to boost DRAM prices late in the year.
($1 = 1,266.2800 won)
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