Samsung Electronics achieved the second highest sales record in the second quarter

Samsung Electronics achieved the second highest sales record in the second quarter Samsung Electronics posted a slight decline in revenue in the second quarter compared to the first three quarters. Because smartphones, This is due to weak demand for TVs and other home appliances, according to figures released by the company.

Analysts expect Samsung Electronics’ chip business to slow in the second half. Samsung released its earnings results for the April-June quarter, saying sales rose 1 percent to 77 trillion won ($59.2 billion). Operating profit fell 0.85 percent to 14 trillion won compared with the first quarter. Compared to the previous and second quarter, sales increased by 20.94% and operating profit increased by 11.38%.

In the first three months of this year, sales reached a new record of 77.78 trillion won, while the second quarter was the second highest. Samsung Electronics did not disclose revenue figures by division. But industry analysts said Samsung could maintain strong earnings in the second quarter due to strong memory chip sales despite declining smartphone and home appliance revenues.

Samsung maintained strong earnings in the first quarter as it continued to hold onto memory chip market share. DRAM memory chip sales are expected to grow by 14.7% in 2022. Samsung Display earned 800~900 billion won in operating profit from being able to supply Apple’s mobile devices. Global demand continues to improve. Samsung’s gains for the chip are largely due to US tech giants Amazon, Microsoft, Alphabet’s Google and Meta adding chips to offset spending in many data center services.

DRAM chip prices used in appliances and servers fell about 12% in June this year compared to June last year. Prices of NAND Flash chips used to store data fell by up to 5%. Samsung’s chip sales are mainly sold in dollars and profits are reported in Korean won, with the won-dollar exchange rate showing higher chip revenue as the won weakens and the dollar strengthens. With more and more services for cloud storage, Samsung’s chip sales can be expected to continue to improve.