Samsung Electronics Co Ltd says it will focus on its new flagship smartphones by ‘mainstreaming the foldable category’.
Samsung plans to unveil its next flagship foldable smartphone, Galaxy Z Fold and Z Flip lines, on Aug. 11
However, it says the global shortage of non-memory chips still poses a risk to forecasts, and the uncertainties related to COVID-19 for both TV and Digital Appliances businesses.
“For the second half, market conditions are expected to be favourable for the component business,” Samsung said in a statement. “Memory demand will likely be buoyed by new smartphone model launches, with wider 5G availability driving growth.”
The company posted a 54 per cent jump in operating profit in the April-June quarter of 12.6 trillion ($10.95 billion).
This was its strongest result in more than two years for the world’s top maker of memory chips and smartphones.
Its performance was supported by high chip prices and better than expected demand.
The semiconductor business recorded an operating profit of 6.1 billion U.S. dollars on revenue of 19.9 billion U.S. dollars in the second quarter.
Its net income rose 73.4 per cent to 8.4 billion U.S. dollars in the second quarter.
“Looking ahead to the second half, Samsung expects demand to recover for mobile displays as major customers are planning to launch new flagship models, including high-value products such as foldable phones,” it said in a statement.