SEOUL, Jan 27 ― South Korean tech giant Samsung Electronics said today its operating profit rose 53.3 per cent in the fourth quarter of 2021, as record sales helped overcome pandemic-induced supply chain challenges.
While the Covid-19 pandemic has wreaked havoc on the global economy, it has helped many tech companies boom. In November Samsung announced a new microchip factory in Texas, a US$17 billion investment. The plant is expected to be operational by the end of 2024. “We had forecast around a 10 per cent fall in chip prices in the first months of 2022 but it appears now that the decline scope will be smaller with solid demands for PCs and improved supply chains.”
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