Customers stockpiling chips and bringing forward smartphone purchases ahead of US tariffs and export controls have boosted Samsung Electronics’ quarterly profits.
Shares in the world’s largest memory chipmaker jumped 2.1 per cent on Tuesday morning as the South Korean company forecast its operating profit for the January to March quarter would be Won6.6tn ($4.5bn) — higher than the Won5.2tn given by LSEG SmartEstimate — with sales projected to rise about 10 per cent year-on-year.
However, its share price rise lagged behind that of local rival SK Hynix, whose stock rose almost 4 per cent as the South Korean market recovered slightly following Asia-wide losses on Monday.
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