Samsung Q2 Profit Increases

Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) reported a profit for the second-quarter that increased 15.91 percent from the previous year. Quarterly sales rose 21.25 percent from the prior year.

Looking to the second half of the year, fundamental demand for server will stay solid as the investments in core infrastructure and new growth areas such as AI and 5G are expected to keep expanding, centering on major datacenter companies.

Demand for consumer products like PC and mobile is likely to stay weak. For PC, there is a possibility that the slump in demand may expand to enterprise segments.

Looking ahead to the second half of this year, for the smartphone market, the Company forecasts earnings to grow compared to the first-half of year as new products are due to be released by major customers. However, earnings are likely to be more volatile than last year due to a number of difficult-to-predict external factors.

For the second half, smartphone market demand is forecast to stay similar year-on-year or show single-digit growth with prolonged geopolitical issues and economic uncertainties. However, the company aims to expand flagship sales by successfully launching new foldable models.

The South Korean electronics giant reported that its net income attributable to the shareholders of the parent company for the second-quarter rose 15.91 percent to 10.95 trillion Korean won from 9.45 trillion won in the same quarter last year.

Operating profit for the quarter grew 12.18 percent to 14.10 trillion won from the previous year.

Sales for the second-quarter were 77.20 trillion won, a 21.25 percent increase from a year earlier.

The DS Division posted 28.5 trillion won in consolidated revenue and 9.98 trillion won in operating profit in the second quarter.

The MX and Networks businesses posted 29.34 trillion won in consolidated revenue and 2.62 trillion won in operating profit for the second quarter.

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