Samsung's quarterly profit tops estimates

Samsung to invest $18 billion in memory chip business

"Samsung's big increase in sales has been driven by an awesome rise in DRAM and NAND flash average selling prices", IC Insights said at the time.

Samsung has benefitted from increased shipments and strong prices for DRAM and NAND semiconductor chips, as it put behind it last year's Galaxy Note 7 recall fiasco.

The earnings forecast surpassed a market consensus of around 13.2 trillion won compiled by FnGuide, a financial information service provider. Moreover, Samsung Electronics is also expected to account for 30.5 percent of the total operating profits of KOSPI-listed firms, up from 25.5 percent at the previous quarter.

South Korean shares were flat on Friday even after tech giant Samsung Electronics said its quarterly operating profit likely hit an all-time high.




Solid sales of the Galaxy S8 smartphone launched in April likely provided an additional boost, keeping the firm ahead of rival Apple Inc as the world's top smartphone maker. The company also has an extensive business portfolio that lets different products drive profits from year to year as circumstances change, with televisions and mobile devices, chips, and smartphones each taking the lead at times between 2009 and 2016. For that, we'll have to wait until later this month for the official earnings release. In particular, analysts think Samsung's semiconductor and display businesses were probably big drivers of the gains as the markets continue to demand more and more flash storage.

Analysts say a global shortage of chips may persist throughout 2017, driving prices higher and benefiting major suppliers such as Samsung and another South Korean chipmaker, SK Hynix.

Additionally, with iPhone 8 component orders creating a worldwide shortage of DRAM and NAND chips, Apple was yesterday reported to have turned to Samsung's chip division for some of its 3D NAND chips.

Samsung was trading down 0.2 per cent after opening 0.7 per cent lower than its last close.

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