Samsung and LG Electronics both projected to see operating profit growth in Q2

Описание: 삼성전자 2분기 영업이익 12.5조원... LG전자 영업이익 1조1천128억원

Samsung Electronics is estimating its operating profits for the second quarter... to have risen by more than 50 percent compared to a year earlier... in the early days of the pandemic.
A similar story at LG Electronics, which is looking at its best quarter in twelve years.
Bae Eun-ji reports.
South Korean tech giant Samsung Electronics' sales and operating profit is projected to soar in the second quarter of this year.
In its earnings guidance on Wednesday, the company estimated its operating profit to be around 11-billion dollars for the April to June period... up over 53-percent from the same period last year.
This marks the highest operating profit in 11 quarters.
It also estimated its sales in the second quarter to be around 55-point-4 billion U.S. dollars... the highest-ever sales for the second quarter.
The sharp increase was largely driven by rising demand for the company's semiconductors and displays, especially DRAM memory chips... which are widely used in servers, mobile phones and other computing devices.
This was because the pandemic led to a strong demand for chips for PCs ... and because companies invested more in data centers.
One analyst says he expects the operating profit in the third quarter to be even higher... reaching around 13-point-2 billion U.S. dollars.

"The price of semiconductors is continuously rising... so the price of DRAM and NAND flash chips will likely go up in the third quarter as well. So, the operating profits for the third quarter are estimated to be around 15 trillion Korean won, or about 13-point-2 billion U.S. dollars."

LG Electronics also announced on Wednesday that its earnings for the second quarter are projected to be the highest in 12 years.
The company said it expects its operating profit to be around 978 million dollars... up over 65-percent on-year.
Its sales are projected to be around 15 billion U.S .dollars... also up by 48 percent... marking the highest-ever sales for the second quarter.
The sales increase was mainly due to strong demand for TVs and home appliances.
Bae Eun-ji, Arirang News.

#Samsung_Electronics #Economy #operating_profit

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2021-07-07, 17:00 (KST)