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.
