SAMSUNG Electronics earnings have been boosted by the work-from-home boom.
The world’s largest smartphone manufacturer announced Q2 operating profits up 23 percent compared with last year, partly driven by global demand for computer chips. There has been growth in data centres which have expanded their capacity to support remote working and education.
“The Memory Business saw robust demand for cloud applications related to remote working and online education as the impact from Covid-19 continued, while demand for mobile was relatively weak,” the company said in a statement.
Other memory chip makers have seen similar rises in earnings, including fellow South Korean producer SK Hynix and US company Micron Technology.
Samsung is poised to launch its Galaxy Note and Galaxy Z Fold smartphone handsets, and believes the market will grow still further.
“The smartphone market is expected to witness intensifying competition amid a gradual recovery in demand in the second half of the year,” the company said.
Samsung shares rose in Seoul trading after the announcement, gaining about 10 percent in the past week.