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Samsung Joins Hynix in Predicting Memory Demand to Stay Strong

  • Post-pandemic demand for PC, Server drives chip sales in Q2
  • Semiconductor profit more than doubled from a year earlier
Bloomberg business news
Key Takeaways From Samsung’s Second-Quarter Earnings
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Samsung Electronics Co. predicted the strong memory demand that helped its second-quarter profit beat estimates will continue for the rest of the year, while the recovery of its Austin chip plant drove record sales at its foundry unit.

The adoption of 5G smartphones and consoles as well as new server processors should drive memory demand and lift shipments at Samsung’s largest division this year, it said. Chip inventory have fallen “substantially” low level and should continue to do so, the Suwon-based company projected.