Samsung chip sales up by 40% helped the company make a profit

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For the past year or more, we have been hearing that there has been a global chip shortage. Due to the deficit, everything from cars to TVs has been increasingly difficult to make. The shortage has also sparked higher demand for chips, which means chip sales are up, at least for Samsung.

Estimated reading time: 2 minutes

The company has reported encouraging results for its shareholders, with profits for the first quarter climbing more than 50% compared to a year ago. Chip sales were up nearly 40% year-on-year, taking in approximately 20.1 trillion won ($15.8 billion).

Samsung’s mobile division also benefited from strong sales of its newest lineup of smartphones, which it said “centered on” the flagship Galaxy S22 Ultra. The models were launched at a splashy event in February.

But the electronics maker also warned that headaches over long-running supply chain issues would “persist,” leading to component shortages for its devices. The company said it would continue to focus on efforts to shore up its stock of chips and image sensors this year.

Samsung also flagged that it expected weakened consumer sentiment for smartphones due to “prolonged geopolitical conflicts and lockdowns in some areas.”

Research provider Canalys has pointed to a softening global smartphone market, with “an unsettled business environment” in the first quarter, according to the firm’s vice president of mobility, Nicole Peng.

MSN

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Last Updated on April 28, 2022.

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