Samsung's boom: In the Covid19 epidemic, an increase of over 70 percent
On Thursday, South Korean giant Samsung reported that Samsung Electronics' second-quarter net profit jumped more than 70 percent, which is due to the increase in demand and price of memory chips due to the Covid 19 epidemic.
Samsung's profit has increased 54.3 percent to KRW (Korean Won- Korean Currency) 12.6 trillion (about 81,730 crore INR) from a year ago of 8.1 trillion (about 52,550 crore INR),In which more than half belongs to semiconductor firm only.
Samsung, in a regulatory filing, said that the world's largest mobile maker has reported annualized losses in the April-June period profits rose 73.4 percent to 9.6 trillion curves (about Rs 62,280 crore).
Strong results were also seen in the quarter as supply chain problems disrupted global production.
Samsung Electronics, a subsidiary of the giant Samsung Group, is the world's now-owned family-controlled company, which is doing business in South Korea, the world's 12th largest economy.
Given the continued demand for memory chips in the server and mobile markets ,analysts expect the firm's profit ratio to likely to increase further in the coming months.
That investment and security analyst has pointed out that the company will benefit from memory chip prices and increased demand,Which is likely to be higher in the third and fourth quarters.
In the recent coming days, Samsung is going to showcase its Galaxy series of foldable mobile mobiles Galaxy Z and clamshell Galaxy Z models.
Due to the new features that are being folded, its manufacturers are becoming increasingly competitive with rivals like Huawei and Xiaomi.
