Record profit for Samsung
SAMSUNG yesterday reported a record operating profit in the second quarter of the year, thanks to a strong return from its memory chip and display panel businesses. Operating profit in the second quarter of the year came to 14.1 trillion won (R164bn), a 72.7 percent increase versus the same period a year earlier, the Seoulbased company said. The electronics and smartphone giant expects sales in the same period to be about 61trln won, and predicts a strong second half of the year. “Looking ahead to the third quarter, the company expects favourable semiconductor conditions to continue, although overall earnings may slightly decline (quarter-on-quarter),” the statement said.