/ 08 July 2021

Samsung’s chips not so cheap

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Tech giant Samsung expects to see its earnings for the April-June quarter jump by 53% as the company cashes in on a global chip shortage. Lovers of the crisp/hot variety need not panic: we’re talking about the semiconductor kind… The price of chips has skyrocketed as manufacturers struggle to keep up with demand as more people start to work remotely. That’s seen Samsung, which is the world’s largest manufacturer of chips and smartphones, able to more than offset a sales slump at the start of the pandemic. Now, the company reckons it will post a quarterly profit of US$11 billion, which would far exceed analysts’ expectations. If confirmed later this month, it would mark Samsung’s biggest 2nd quarter profit since 2018. Plans are underway to address the chip shortage, which has seen industries worldwide that make anything electrical struggle. From cars to electric toothbrushes to hi-tech computers, it’s a problem

Image source: Unsplash

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