For the second quarter of the year: profits of Samsung Electronics rise to 23 percent

The South Korean technology company wants to have surpassed in the second quarter, the profit expectations of analysts. Probably, the operating profit would be

For the second quarter of the year: profits of Samsung Electronics rise to 23 percent

The South Korean technology company wants to have surpassed in the second quarter, the profit expectations of analysts. Probably, the operating profit would be at 23 percent, said Samsung Electronics. The conversion to home offices, the growth of Online trading, as well as of Online learning as a result of the Coronavirus pandemic would have to pay the sales and prices of memory chips in the amount driven, said the group.

The company's operating profit will probably be at 8.1 trillion Won (6,80 billion dollars) in the quarter to the end of June, well above the analysts ' estimate of 6.4 trillion Won from Refinitiv smart estimate.

The sales is estimated to have fallen year-on-year seven percent to 52 trillion Won, it said. Analysts warned, however, that the increase in Chip prices in the second half of the year will not continue as customers of the computing companies up in the face of the resurgence of Covid-19-cases in the United States and other countries are likely to be reluctant to stock purchase of memory chips.

Updated Date: 06 July 2020, 22:19

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