Samsung Elec posts record Q2 on strong chip sales
Samsung Electronics Co, the world's top maker of memory chips and flat screen TVs, reported a record quarterly profit on Friday, aided by strong sales of both of its key products.
Samsung reported a 5.01 trillion won ($4.23 billion) operating profit in April-June, beating a consensus forecast for a 4.86 trillion won profit by 20 analysts from Thomson Reuters I/B/E/S.
That was in line with the median profit of 5.0 trillion won in a range of 4.8 trillion and 5.2 trillion won forecast by Samsung earlier this month.
The results were a improvement from a 2.67 trillion won profit a year earlier and topped the previous record of 4.4 trillion won in the first quarter.
Investors' concerns are growing whether Samsung will be able to match analysts' forecasts of another all-time high profit this quarter due to accelerating growth of component supplies and uncertain demand outlook for handsets and TVs amid a fragile global economic recovery.
Samsung trails Nokia in mobile phones and competes with Sony Corp and LG Electronics in flat-screen TVs and Toshiba and Hynix in semiconductors.
Shares in Samsung, Asia's most valuable technology company with a market value of $113 billion, have risen 5 percent so far this year, broadly in line with the wider market.
(Reporting by Miyoung Kim; Editing by Jonathan Hopfner)
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