Server chips’ demand and cloud-based smartphones outlook make Samsung Q2 strong

Samsung Electronics Co., Ltd. is likely to turn in its best April-June profit since 2018 with a 15 percent year-on-year rise as lingering demand for its memory chips from server customers offsets lower sales to inflation-hit smartphone makers.
Operating profit for the world’s biggest smartphone and memory-chip maker likely jumped to 14.46 trillion won ($11.2 billion) in the quarter, according to a Refinitiv SmartEstimate from 24 analysts, from 12.57 trillion won a year earlier.
Its chip earnings likely soared 49 percent to 10.3 trillion won, an average of seven estimates shows. The chip business accounts for about half of the South Korean tech giant’s profits.