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Samsung Electronics chip-making profits to soar in Q1 of 2022

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Last updated: March 29th, 2022 at 09:23 UTC+02:00

The latest survey reports forecast that Samsung, which is one of the largest chip manufacturers in the world, is going to make huge profits in the first quarter of 2022.

According to Yonhap Infomax’s survey (via The Korea Herald), despite the ongoing situation of continuous price hikes in raw materials and the global supply shortage, Samsung’s profits are going to soar.

Notably, Samsung is expected to earn around 13.89 trillion won, or about $11.3 billion, in operating profits in the first quarter of 2022, which ends on March 31.

This is up 38.64 percent from a year ago, which is remarkable given the supply shortages and the ongoing war between Russia and Ukraine. Samsung Electronics’ first-quarter sales are expected to total 75.2 trillion won, which is 15.02% more than the previous year.

Samsung has already said that the Russia-Ukraine war will not have an immediate impact on their chip production, all thanks to the diversified sources and the huge inventory of key materials that the company already has.

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