Tech giant Samsung Electronics has said it expects to see a 52% rise in profits. during the last three months of 2021, amid the global chip shortage. The world’s largest memory chip maker estimates that it earned 13.8 trillion won in this period. That would be its highest fourth-quarter operating profit in four years.
The company’s earnings were driven by strong demand for server memory chips and higher profit margins in its chip contract manufacturing business. “Samsung is in a good position to benefit from record demand for PCs and electronics“Technology analyst Sam Reynolds told the BBC.
He also highlighted that the company had benefited from currency fluctuations: “The Korean won continues to depreciate, making Korean exports more attractive on the world market.” However, the estimated profit was less than the 15.2 trillion won predicted by many analysts.