Samsung reports robust profit thanks to chip demand

SEOUL – Samsung Electronics connected Thursday reported its highest quarterly nett successful 3 years arsenic it continues to spot robust planetary request for its machine representation chips.

The South Korean exertion elephantine besides said its gross of 74 trillion won ($63 billion) for the July-September play was a caller quarterly record. Operating nett jumped 26% from the erstwhile 4th to 15.8 trillion won ($13.48 billion), its highest since the aforesaid play of 2018, a maturation the institution attributed to “favorable marketplace conditions” that led to rising semiconductor prices and shipments.

Samsung besides saw an summation successful income for its smartphones and premium TVs, though rising costs tied to earthy materials and logistics dented profitability.

Samsung’s dual spot successful parts and finished products has allowed it to flourish during the pandemic, which accrued the request for its representation chips utilized successful computing devices and servers arsenic millions of radical were forced to enactment astatine home.

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However, the institution said it was dealing with “longer-than-expected” constituent shortages that whitethorn impact the request for semiconductors during the existent quarter.

It besides said it expects demands for TVs to dilatory successful the coming months arsenic radical walk little clip astatine location amid eased societal distancing restrictions.

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