Samsung recorded a 53% increase in its operating profit for the second quarter of 2021. Despite the low smartphone sales, this growth is due to the strong price of chips, the recovery in the investment market and the high demand for electronics, stimulated by the pandemic .
The South Korean company made a profit of 12.5 trillion won, equivalent to US$11 billion, during the second quarter of the year. Samsung is currently the biggest memory chip maker and benefited from higher prices that beat market estimates.
Between April and June, the chip division’s revenue increased about 19% over the same period last year, totaling approximately 63 trillion won.
Samsung also announced that cell phone shipments plummeted during the second quarter of the year. While the company opened 2021 selling around 76 million cell phones, the three months ended in June had around 59 million devices delivered to the market.
The company may try to make a comeback in the coming months with the surprises that will appear at the Galaxy Unpacked event, which should take place on August 11, 2021