Samsung Electronics operating profits up 12.18% in Q2

South Korean chip powerhouse Samsung Electronics said Thursday that second-quarter operating profits were up 12.18 per cent, with record profits in its system semiconductor division despite global supply chain woes.

The company’s “system semiconductor businesses… achieved a record high quarterly profit,” Samsung said in a statement, adding it had both expanded its product line-up and increased the supply of chips to global customers.

“Earnings in the Memory Business improved both year-on-year and quarter-on-quarter as the Company focused on meeting solid demand for servers,” Samsung said.

In June, the company became the first chipmaker in the world to mass-produce 3-nanometre microchips as it sought to match and eventually outpace Taiwan’s TSMC in the race to manufacture the world’s most advanced chips.