Samsung expects component shortages to affect some chip demand after 3-year profit high

Tajammul Pangarkar
Tajammul Pangarkar

Updated · Oct 28, 2021

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October 28, 2021

SEOUL (Reuters) -Samsung Electronics Co Ltd said on Thursday it expects component shortages to affect chip demand from some customers in the current quarter, after reporting its highest quarterly profit in three years.

The world’s top maker of memory chips posted a 28% jump in operating profit in the July-September quarter to 15.8 trillion won ($13.48 billion) on the back of an 82% on-year profit surge in its chip business, where earnings rose to 10.1 trillion won ($8.62 billion).

Rising memory chip prices and shipments, plus a jump in profitability at Samsung’s chip-contract manufacturing business boosted the chip division’s operating profit, while sales of Samsung’s new foldable smartphones were tempered by marketing and component costs.

Net profit rose 31% to 12.3 trillion won. Revenue rose 10% to a record 74 trillion won.

($1 = 1,172.0500 won)

(Reporting by Joyce Lee and Heekyong Yang; Editing by Richard Pullin)

Source Link Samsung expects component shortages to affect some chip demand after 3-year profit high

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Tajammul Pangarkar

Tajammul Pangarkar

Tajammul Pangarkar is a CMO at Prudour Pvt Ltd. Tajammul longstanding experience in the fields of mobile technology and industry research is often reflected in his insightful body of work. His interest lies in understanding tech trends, dissecting mobile applications, and raising general awareness of technical know-how. He frequently contributes to numerous industry-specific magazines and forums. When he’s not ruminating about various happenings in the tech world, he can usually be found indulging in his next favorite interest - table tennis.

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