Samsung expects supply chain shortages to affect chip demand despite 3-year profit high
South Korean tech giant Samsung Electronics posted a 28 per cent jump in operating profit on Thursday despite global supply chain challenges caused by the pandemic.
Samsung's sales rose 10 per cent on-year to a record 74 trillion won amid strong performance from its memory chip division thanks to sustained global demand.The company said "favourable market conditions continued in the memory market" resulting in "robust sales". The firm acknowledged it would continue to be affected by supply shortages for memory chips, noting "a longer-than-expected component supply issue may need to be monitored."While the coronavirus pandemic has wreaked havoc on the world economy, it has helped many tech companies boom.
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