Samsung profit likely biggest in six quarters on higher chip prices
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Samsung Electronics is expected to post a near nine-fold increase in first-quarter profit from a year earlier as rebounding semiconductor prices lift earnings from a low base caused by a severe chip downturn. Operating profit likely rose to 5.7 trillion won ($4.24 billion) in the quarter ended March 31, the highest since Q3 2022. The chip division is expected to report its first quarterly profit in five quarters of about 750 billion won. Memory chip prices have rebounded, with DRAM chips up 20% and NAND Flash chips up 23-28% in Q1. Samsung's mobile business likely reported an operating profit of around 3.8 trillion won, with an estimated 57 million smartphones shipped in Q1, up 8% from the previous quarter. The average selling price of Samsung smartphones also likely rose 30% to $340 quarter-on-quarter.

#SamsungElectronics #SemiconductorPrices #ChipDivision #MemoryChipPrices #SmartphoneSales

https://www.investing.com/news/stock-market-news/samsung-profit-likely-biggest-in-six-quarters-on-higher-chip-prices-3364653