Chips Drive Highest Samsung Q2 Profit Since 2018, but Demand Cooling

Chips Drive Highest Samsung Q2 Profit Since 2018, but Demand Cooling
The logo of Samsung Electronics in Seoul, South Korea, on March 23, 2018. Kim Hong-Ji/Reuters
Reuters
Updated:

SEOUL—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 closed up 3.2 percent after preliminary results were announced, versus a 1.8 percent rise in the wider market.