Jan 7, 2022

Global chip shortage: Samsung expects its profits to jump by 52%

Technology giant Samsung Electronics expects to post a 52% jump in profit for the last three months of 2021, amid the global computer chip shortage. The company's earnings were boosted by strong demand for server memory chips and higher profit margins in its chip contract manufacturing business. "Samsung is well placed to profit from the record-breaking demand for PCs and electronics," technology analyst Sam Reynolds told the BBC.He also highlighted that the firm had benefited from currency fluctuations: "The Korean won continues to depreciate, making Korea's exports more attractive on the global market." In November, Samsung announced that it had chosen a site close to the US city of Taylor in Texas for its new $17bn computer chip plant. Shares in Samsung Electronics were trading around 1.8% higher in Seoul on Friday.

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