Samsung Electronics is expected to release its second quarter financial report later this week, but analysts are expecting a 15.6% increase in operating profit over the same period last year, Yonhap News reported.
This is despite the decline in sales of consumer electronics. Smartphone shipments fell to around 61 million units in the April-June period, a drop of 16% from the previous quarter. This will lead to KRW 2.6 trillion in operating profit ($ 2 billion), KRW 600 billion less than last year.
Samsung’s display panel business is also experiencing weaker demand with an expected operating profit of KRW 1 trillion ($ 760 million), down from KRW 1.3 trillion a year ago. Household appliances recorded an even greater decline: operating profits will halve to KRW 500 billion.
However, Samsung’s chip business is more than making up for the lower demand for consumer products. Analysts expect a 42% increase and operating profit of KRW 9.8 trillion ($ 7.5 billion). DRAM chip shipments increased 9%, NAND flash chip demand increased 2% over last year.
In total, Samsung’s second quarter sales are estimated at KRW 76.8 trillion or USD 58.4 billion (+ 20.5%), operating profit will be KRW 14.5 trillion (USD 11 billion). dollars), up 15.6% compared to the second quarter of 2021.
Again, these are just estimates – Samsung’s official report is expected to come out Thursday.
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