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Asharq Al-Awsat
Asharq Al-Awsat
Technology
Asharq Al-Awsat

Chips Drive Highest Samsung Q2 Profit since 2018, but Demand Cooling Smartphone Demand Weakens

A South Korean man visits the Samsung Electronics gallery at the Samsung Electronics headquarters in Seoul, South Korea, 07 July 2022. (EPA)

South Korea's Samsung Electronics Co Ltd turned in its best April-June profit since 2018 on Thursday, underpinned by strong sales of memory chips to server customers even as demand from inflation-hit smartphone makers cools.

Shares of the world's largest memory-chip and smartphone maker rose 2.5% after preliminary results for the second quarter were announced, versus a 1.5% rise in the wider market.

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