Samsung predicts another record quarter, thanks to its chip business

Samsung predicts another record quarter, thanks to its chip business

However, Analyst Kim Young-woo stated that the semiconductor industry could still slow in 2019, as RAM demand from major clients, such as Apple and social network giant Facebook Inc. might grow weaker, adding that Samsung is likely to trim down its capital expenditure for memory chips next year.

Although the sales figures are down from the 65.98 trillion won that the South Korean company (~$62 billion) reported in the previous quarter, they're still way more than the 50.55 trillion won (~$47.5 billion) that it made in the same quarter a year ago. That compares with the 14.5 trillion won average of analysts' estimates compiled by Bloomberg. Still, resilient demand for memory chips used in phones and servers could keep the electronics maker on track to post another year of record profit, after replacing Intel last year as the world's biggest chip maker by sales. Sales for the first quarter climbed to 60 trillion won, compared with the 61.3 trillion won average projection.

Despite the falling shares and slowing memory chip prices, Samsung is still expected to reach record annual earnings in 2018.

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Concerns about the smartphone market and a subsequent fall in demand for components like OLED screens - used in Apple's iPhone X - are behind a roughly 5.3 per cent fall in Samsung's share price so far this year, from a record high in November. "Still, momentum may slow toward the end of this year with price rises likely to be less steep than last year". His father, chairman Lee Kun-hee, remains hospitalised after a 2014 heart attack. Sales rose 19%, Samsung did not disclose its net income, but will give the breakdown figures and more details later this month.

Analyst Kim Yang-jae said demand for servers has offset sluggish sales for iPhone X as well as premium Chinese smartphones, and that demand is surpassing market expectations. Semiconductors play a vital role for the Korean tech company, and a year ago they accounted for 65.6 percent of the company's overall operating profit.

"Prices are expected to remain high", said Mike Howard, vice-president of memory research at French researcher Yole Developpement. Shareholders also approved a 50:1 stock split that will take effect following a trade suspension from April 30 to May 3.

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