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

Samsung Q2 operating profit to rise thanks to strong memory chip sales


Last updated: July 5th, 2022 at 14:44 UTC+02:00

Samsung is expected to announce its Q2 earnings guidance on Thursday, and market watchers estimate that the company’s operating profit for the second quarter rose more than 15% from a year ago. A new survey suggests that Samsung enjoyed a bump in sales and net income in the second quarter of 2022, though some of its divisions have underperformed.

Samsung’s Q2 performance was helped by its memory chip business and strong demand for chips used in data centers and servers. The chipset division is forecast to grow 42% and report 9.8 trillion won ($7.4 billion) in operating profit. (via Yonhap News)

A 16% drop in Galaxy smartphone shipments

In contrast with Samsung’s chip business, smartphone shipments were down 16% from Q1 2022, and market watchers estimate Samsung’s operating profit in the smartphone division to drop by 600 billion won ($457 million) from a year ago.

Samsung Display is expected to report an operating profit decline of 300 billion won ($228 million) from a year ago. The home appliance sector was also hit in Q2 by increased costs of raw materials and sluggish demand amid fears of inflation. Market watchers forecast operating profit to drop 50% compared to Q2 2021.

All things considered, Samsung, as a whole, is forecast to post 14.5 trillion won ($11 billion) in operating profit in Q2, representing a 15.6% increase from a year ago. Q2 sales could reach 76.8 trillion won ($58 billion), up 20.6%, while net income could increase by 19.8% YoY and top 11.5 trillion won ($8.5 billion).

Join SamMobile’s Telegram group and subscribe to our YouTube channel to get instant news updates and in-depth reviews of Samsung devices. You can also subscribe to get updates from us on Google News and follow us on Twitter.

BusinessGeneral Samsung DisplaySamsung ElectronicsSamsung Semiconductor
Load 1 comments

You might also like

Samsung isn’t gaining as much value from its R&D efforts as it did in 2020

Samsung’s research and development spendings are up again. In the first half of 2022, Samsung Electronics spent 12.18 trillion won ($9.19 billion) on R&D projects, up from the 11 trillion won ($8.3 billion) it poured into researching and developing new technologies in the first half of 2021. At the same time, in H1 2022, the […]

  • By Mihai Matei
  • 15 hours ago

Samsung phones are crushing rivals in LATAM, nearing a 50% market share

Smartphone shipments in Latin America were up 8% on-quarter in Q2 2022. During the three-month period, Samsung Electronics not only led the market in terms of smartphone shipments and share but also widened its lead to an all-time high. Q2 shipments in the LATAM region increased 8% quarter-on-quarter and 9% year-on-year. And thanks to Samsung […]

  • By Mihai Matei
  • 16 hours ago

Samsung starts teasing its first ‘Ultimate’ PCIe 5.0 SSD

Samsung is the leader in the SSD market, and the 870 EVO, 970 EVO, and 980 PRO SSDs have been big hits over the past few years. They’re known because of their speed and reliance. Now, the company appears to be planning to launch a completely new SSD model. The South Korean firm’s semiconductor division […]

  • By Asif Iqbal Shaik
  • 17 hours ago

Galaxy Z Fold 4 uses Samsung’s newest Eco² OLED Plus panel with higher efficiency

Samsung’s latest flagship foldable smartphone, the Galaxy Z Fold 4, was recently seen defeating the Galaxy S22 Ultra in a battery life test. It wasn’t just because of its more power-efficient Snapdragon 8+ Gen 1 processor. Samsung’s new OLED display panel also contributed to its longer battery life. The Galaxy Z Fold 4 uses Samsung […]

  • By Asif Iqbal Shaik
  • 4 days ago

Samsung heir Lee Jae-yong pardoned by South Korean President, gets cleared of bribery charges

Samsung Electronics Vice Chairman Lee Jae-yong received a huge relief today. The President of South Korea, Yoon Suk Yeol, pardoned Lee on the occasion of next week’s Liberation Day anniversary in the country. Lee Jae-yong can now formally take control of South Korea’s largest conglomerate. Earlier, Lee was sentenced to 2.5 years in prison after being […]

  • By Asif Iqbal Shaik
  • 7 days ago

Samsung seeks support from Vietnam for its Busan World Expo 2030 bid

Last week, Samsung’s TM Roh and the Prime Minister of Vietnam met to discuss the Korean tech giant’s plans for a new R&D center in Hanoi and the local manufacturing of chip transistors by mid-2023. As it turns out, there was another reason behind Samsung’s recent visit to Vietnam. Samsung seeks support for the 2030 […]

  • By Mihai Matei
  • 2 weeks ago