MASSIVE Samsung Galaxy deals during Discover Samsung!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

Samsung expects a 53% jump in Q2 2021 profit, thanks to higher chip sales

Business
By 

Last updated: July 7th, 2021 at 06:23 UTC+02:00

Samsung has published its earnings guidance for Q2 2021 (April to June) earlier today. The South Korean firm is expecting a healthy jump in revenue and profit, thanks to higher sales of semiconductor chips and electronic devices, driven by the remote learning and work-from-home trends during the pandemic.

The company expects its revenue for Q2 2021 to be around KRW 63 trillion (~$55.4 billion) and its operating profit to be around KRW 12.5 trillion (~$11 billion). That is a 19% jump in revenue and a 53% jump in operating profit compared to Q2 2020. This is just the company’s earnings guidance, and it will post the actual numbers sometime later this month. The company also mentioned that it includes one-time gains from its display business.

During the same time last year, the company reported a 7.4% decline in sales as most markets were closed due to COVID-19 related lockdowns. Samsung Electronics is expecting to sell more smartphones and TVs than any other brand, but it said that its sales could decline due to a shortage of chips and other components.

Samsung (well, the Samsung Semiconductor arm) is the world’s biggest memory chip manufacturer, and it is expecting a strong jump in sales, fuelled by rising demand from cloud computing, data center, and personal computing sectors. Analysts expect the South Korean firm’s chip business to have contributed over half of the company’s operating income for the quarter.

Business EarningsSamsung ElectronicsSamsung FoundrySamsung SemiconductorSystem LSI
Load comments

You might also like

Japan’s government wants to help Samsung build its chip factory

Japan’s government wants to help Samsung build its chip factory

Samsung could be planning on building a new semiconductor manufacturing facility in Japan. The facility would include Samsung’s first chip packaging test line in the country, and a new report says that the Japanese government is willing to offer subsidies worth roughly 15 billion yen ($110 million) to the Korean tech giant, should the latter […]

  • By Mihai Matei
  • 13 hours ago
Samsung engineer caught leaking core semiconductor technologies

Samsung engineer caught leaking core semiconductor technologies

While some company leaks appear to be accidental or at least unintentional, others are deliberate. A few weeks ago, following a few ChatGPT-related leaks, Samsung made a new rule to prevent employees from using the generative AI, as sensitive data entered into its database becomes public knowledge. Now, however, the company experienced another technology leak. […]

  • By Mihai Matei
  • 13 hours ago
Samsung’s repair centers treat broken Galaxy phones royally

Samsung’s repair centers treat broken Galaxy phones royally

Samsung’s device care network in the USA spans the nation and is made possible with the help of more than 10,000 certified repair technicians. And as more customers care about durability and technical support, a recent study has shown that Samsung 5G phone customers climbed to the highest satisfaction rating thanks to Samsung’s superior product […]

  • By Mihai Matei
  • 14 hours ago
Samsung’s sales hit an all time low in China in Q1 2023

Samsung’s sales hit an all time low in China in Q1 2023

Amidst deepening issues between China and the US, Samsung Electronics’ China sales have shrunk significantly, hitting an all-time low in Q1 2023. As per the latest quarterly report, the proportion of Samsung’s China sales has dropped to a single digit, which isn’t a good sign for the South Korean technology giant. In the quarterly report, […]

  • By Sagar Naresh
  • 18 hours ago
Samsung may be taking giant steps toward solid-state battery manufacturing

Samsung may be taking giant steps toward solid-state battery manufacturing

Samsung’s been toying with the idea of manufacturing solid-state batteries for at least a decade now. Progress in this area appears to have been slower than the development of foldable display technologies. But new reports say that Samsung is making advancements in solid-state battery development, and two of its divisions will be responsible for manufacturing […]

  • By Mihai Matei
  • 1 day ago
Samsung Galaxy phone customers in the USA are among the happiest

Samsung Galaxy phone customers in the USA are among the happiest

The American Customer Satisfaction Index Survey (ACSI) has placed Samsung Electronics America at the top of the customer satisfaction list for 5G mobile devices in 2023. ACSI ranked Samsung’s 5G phones #1 in the USA for their overall quality, for product quality, and service quality. Samsung says 73% of consumers who are looking to buy […]

  • By Mihai Matei
  • 1 day ago