While some products are difficult to manufacture due to the chip shortage, Samsung seems to be benefiting from it. Due to rising prices, the company expects half more profit.
Samsung Electronics says it expects an operating profit of 12.5 trillion won for its second quarter (which ran until the end of June), a 53 percent increase from last year. In addition, it expects a 19 percent increase in turnover, good for 63 trillion won.
These are not definitive results but provisional guidelines for Samsung Electronics. The formal quarterly results will be released later this month.
The increase in profits is due to higher chip prices, which in turn are rising due to the global deficit that has been building up since last year. But the continuing demand for consumer electronics also plays a role.
At the same time, the company experienced a 7.4 percent decrease in turnover due to the start of the corona crisis. As a result, an increase now appears to be much more significant in the percentages.
However, the company does not only have to gain from the chip crisis. It already indicated in the previous quarterly results that the shortage could also disrupt its own production of some devices. Shortages of other parts can also weigh on the company’s results.
