Samsung predicts 52% profit jump

Samsung has said that profits are expected to jump 52% for the last three months of 2021.

Despite the chip shortage storm, the group said that it is likely to have made 13.8tn won (£8.5bn) during that period thanks to the high demand.

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“Samsung is well placed to profit from the record-breaking demand for PCs and electronics,”  said analyst Sam Reynolds.

The group is also likely to benefit from currency fluctuations.

“The Korean won continues to depreciate, making Korea’s exports more attractive on the global market,” he added.

Shares in the group rose 2%.

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