SEOUL: Samsung Electronics Co Ltd flagged a 23per cent rise in second-quarter operating profit on Tuesday, beating analysts' estimates on solid chip sales to data centres catering for a work-from-home economy during the novel coronavirus pandemic.
Work-from-home orders and growth in online learning are underpinning chip demand amid the coronavirus pandemic and pushing up DRAM memory chip prices. U.S. DRAM supplier Micron Technology Inc forecast strong quarterly revenue last month. The handset and TV business may have also fared better than expected due to lower marketing costs and as stores and factories resumed operations worldwide as countries lifted lockdowns aimed at stopping the virus, analysts said.
While prices jumped 14per cent on average in the quarter, they were flat in June versus May, data from DRAMeXchange showed.
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