Samsung Elec Q1 operating profit jumps 51% on solid chip demand

div classBodysc17zpet90 cdBBJodivpBy Joyce Lee and Heekyong Yangp

pSEOUL Reuters Samsung Electronics Co Ltd reported a 51 rise in quarterly profit on Thursday, posting its highest firstquarter profit since 2018 as robust data centre demand for highmargin memory chips underpinned chip prices. pdivdivdiv classBodysc17zpet90 cdBBJodiv

pOperating profit rose to 14.1 trillion won 11.1 billion for the quarter ended March 31 from 9.38 trillion won a year earlier, the world‘s top maker of memory chips said. That was in line with the company’s own estimate of 14.1 trillion won earlier this month. p

pRevenue rose 19 to a record 77.8 trillion won. p

pAnalysts said Samsungs recent focus on selling more highmargin memory products to prioritise profitability over volume would ultimately limit shipments and help boost DRAM prices later in the year, as would the limited increases in chip production capacity due to delivery delays in chipmaking gear.p

p1 1,266.2800 wonp

p Reporting by Joyce Lee editing by Richard Pullinp

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