Young Journalists Club | Latest news of Iran and world

News ID: 38647
Publish Date: 9:10 - 30 April 2019
TEHRAN, Apr 30 -Samsung Electronics Co Ltd on Tuesday flagged better second-half results after posting a 60 percent drop in first-quarter profit, pointing to higher expected sales of memory chips and smartphones.

Samsung Electronics counts on better second half after first-quarter profit dropsTEHRAN, Young Journalists Club (YJC) -The world’s top maker of semiconductors warned however that there was more short-term pain to come in the second quarter, with memory chip prices likely to decline further before demand rebound as data centers re-stocked later in the year.

“For the second half of 2019, the company expects memory chip demand for high-density products to increase, but uncertainties in the external environment will persist,” the South Korean tech giant said in a statement.

Hit by falls in chip prices and slowing demand for display panels, Samsung posted operating profit of 6.2 trillion won ($5.4 billion) in the January-March quarter, in line with its guidance issued earlier this month.

Revenue fell 13.5 percent to 52.4 trillion won, also in line with its earlier estimates.

Samsung’s core semiconductor business booked a 64 percent fall in operating profit to 4.1 trillion won, while the display business logged 560 billion won in losses.

Memory chip makers have been hurt by a downturn in the global smartphone market and a fall in demand from the data centers behind cloud computing services, amid a broader economic slowdown.

Source: Reuters


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