SEOUL: Samsung Electronics Co Ltd on Tuesday flagged better second-half results after posting a 60 percent drop in first-quarter profit, pointing to higher expected sales of memory chips and smartphones.
Samsung's smaller rival, memory chip maker SK Hynix, last week posted the slimmest quarterly operating profit in more than two years, but said it was confident chip demand would recover later this year. "On the macroeconomic side, China may give a boost to its IT industry to support the economy and if there's a trade agreement signed between China and United States, these will drive up demand for Samsung's products, like chips," senior analyst Song Myung-sup at HI Investment and Securities said.The world's top smartphone maker said its mobile business posted a 40 percent drop in operating profit to 2.3 trillion won in the first quarter.
Source: Tech Daily Report (techdailyreport.net)
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