SEOUL: Samsung Electronics Co Ltd said on Tuesday second-quarter operating profit likely rose 23per cent, beating analysts' estimates on solid chip sales to data centres catering for a work-from-home economy during the coronavirus pandemic.
"Chip demand was stronger than expected due to the COVID-19," said Park Sung-soon, an analyst at Cape Investment & Securities.Analysts also said the handset and TV business may have fared better than expected due to lower marketing costs and as stores resumed operations worldwide as countries lifted lockdowns.
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