According to the latest report, 13 analysts from Refinitiv SmartEstimate expect that Samsung Electronics, the world’s largest smartphone and memory chip maker, may reach 13.3 trillion won in first-quarter profit, a year-on-year increase of 41%, setting a new high for the same period since 2018.
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Moreover, analysts pointed to stronger-than-expected and lucrative memory chip prices on strong demand, driving quarterly earnings growth. Samsung Electronics will announce its preliminary first-quarter results on Thursday.
According to the average forecast of six analysts, Samsung Electronics’ chip profit in the first quarter may reach 7.6 trillion won, double the 3.37 trillion won in the same period last year. The chip business contributes about half of Samsung Electronics’ profits.
In addition, analyst forecasts show that Samsung’s mobile business profit is expected to be 4.04 trillion won, a slight decrease from the same period last year, but higher than the profit in the same period of 2017-2020.
