Samsung Electronics says first-quarter revenue possible rose 44%, matching expectations By Reuters

© Reuters. The emblem of Samsung Electronics is seen at its retailer in Seoul By Joyce Lee and Heekyong Yang SEOUL (Reuters) – Samsung Electronics (OTC:) Co Ltd on Wednesday mentioned first-quarter revenue possible rose 44%, with analysts attributing the surge to brisk gross sales of smartphones and TVs, albeit tempered by a probable fall



© Reuters. The emblem of Samsung Electronics is seen at its retailer in Seoul

By Joyce Lee and Heekyong Yang

SEOUL (Reuters) – Samsung Electronics (OTC:) Co Ltd on Wednesday mentioned first-quarter revenue possible rose 44%, with analysts attributing the surge to brisk gross sales of smartphones and TVs, albeit tempered by a probable fall in chip earnings after a storm halted U.S. output.

The South Korean expertise large forecast January-March working revenue of 9.3 trillion received ($8.32 billion), matching a weighted common analyst forecast from Refinitiv SmartEstimate.

Income possible rose 17% from the identical interval a yr previous to 65 trillion received, the agency mentioned in a preliminary earnings launch with out providing any breakdown of the figures.

Samsung (KS:) is because of launch detailed earnings later this month.

Samsung’s share worth traded down 0.4% after the discharge versus a 0.2% rise within the benchmark . The inventory has risen about 6.2% to this point this yr versus the KOSPI’s 8.8%.

Analysts mentioned Samsung’s cellular division possible noticed working revenue soar greater than 1 trillion received to about 4.15 trillion received after its flagship Galaxy S21 smartphone collection outsold the earlier model by a two-to-one margin within the six weeks since its January launch, in response to analysis supplier Counterpoint.

A decrease beginning worth for the flagship helped gross sales for the world’s largest smartphone maker throughout the quarter, with the S21 priced $200 decrease than the S20, Counterpoint mentioned.

In its chip division, analysts mentioned revenue possible fell 20% to three.6 trillion received attributable to the price of ramping up home manufacturing in addition to losses at its Texas plant following a mid-February stoppage, blunting the advantages of robust demand.

U.S. reminiscence chip peer Micron Expertise Inc (NASDAQ:) final month forecast third-quarter income above analyst estimates attributable to rising demand caused by a worldwide shift to distant work.

The worth of DRAM chips extensively utilized in laptops and different computing units rose 5.3% in January-March from the earlier three months, confirmed information from TrendForce. Analysts count on that development to proceed as a worldwide chip scarcity spurs on consumers to snap up provides.

“Costs are more likely to rise additional within the present quarter attributable to stable demand for servers,” mentioned analyst Park Sung-soon at Cape Funding & Securities.

Revenue in Samsung’s tv set and residential equipment enterprise possible greater than doubled to round 1 trillion received, analysts mentioned, additionally attributable to continued stay-at-home demand.

($1 = 1,118.2100 received)

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