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Samsung Q2 profit likely to grow at 5.2%; revenue may come down by 4.9%

The firm's profits are being driven by strong global sales of DRAM and NAND chips which account for about a third of its revenue

Reuters  |  Seoul 

South Korean tech giant Samsung Electronics Co Ltd estimated on Friday earnings would grow at the slowest pace in more than a year in the second quarter, as analysts said weak smartphone sales likely offset record high chip earnings. The world's biggest maker of memory chips, smartphones and TVs said April-June operating profit would grow 5.2 per cent to 14.8 trillion Korean won ($13.2 billion), just missing an average estimate of 14.9 trillion won from 18 analysts polled by Thomson Reuters. While the chip business would post its seventh consecutive record quarterly profit, ...

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First Published: Fri, July 06 2018. 09:12 IST