Memory chip sales are strong to drive Samsung’s 2022Q2 profit increase

Contrary to the memory chip business, Samsung’s smartphone shipments have experienced a sharp decline, falling 16% in the second quarter of 2022 compared to the previous quarter, and operating profit is expected to decrease by 600 billion won ($457 million) compared to the same period last year.

Samsung Display‘s performance is also relatively average, and operating profit is expected to decrease by 300 billion won ($228 million) compared with the same period last year. The home appliance business was hit by rising raw material costs and inflation in the second quarter of 2022, coupled with sluggish market demand, and operating profit is expected to decrease by 50% compared to the same period last year.

As a super-large multinational group involving many different industries, Samsung’s overall performance can still be guaranteed. Samsung’s operating profit in the second quarter of 2022 is expected to reach 14.5 trillion won ($11 billion), a year-on-year increase of 15.6%, and the second quarter of 2022 revenue may reach 76.8 trillion won ($58 billion), up 20.6%, while net income could increase by 19.8% YoY and top 11.5 trillion won ($8.5 billion).