Samsung Sees Chip Crunch Persisting After Profit Tops Estimates
- Sales benefiting from demand for semiconductors, smartphones
- Rising raw material prices, supply bottlenecks among hurdles
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Samsung Electronics Co. said the tight supply of chips that’s hurting industries worldwide is set to persist through next year, as it reported quarterly profit boosted by rising prices at its semiconductor business.
The South Korean giant, both a major producer and consumer of chips that go into computers and mobile devices, said net income rose to 12.06 trillion won ($10.3 billion) in the three months ended September. Analysts predicted 11.54 trillion won on average, according to estimates compiled by Bloomberg. Samsung disclosed preliminary numbers earlier this month, including a more than 25% increase in operating profit.