Samsung Electronics Co. said this week its
operating profit for the last quarter likely rose
23% from the same period last year.
The growth was apparently driven by increasing
demands for memory chips used in personal
computers and servers as the COVID-19 pandemic
forces more people to work from home.
The South Korean technology giant, which
will release more detailed information when
it announces its finalized earnings later this
month, projected its operating profit during
the April-June period to come in at 8.1 trillion
won ($6.8 billion). The company’s revenue for
the quarter was expected to fall 7% to 52 trillion
won ($43.6 billion).