According to the Q1 financial forecast reports, Korean multinational company, Samsung strikes gold to become the world’s largest chip manufacturing company.
Samsung has reportedly predicted a 15.6 trillion KRW ($14.7 billion) profit, a year-on-year growth by 19% in its first quarterly financial report.
This rise in the profits of Samsung has unseated Intel, the Amercian tech giant in the list of top chip producers. For the last 25years, Intel was reigning the charts, however popularity, enhanced features, application of latest technology and cost effective pricing has made Samsung a winner.
Even though, Apple’s iPhone X demand may be causing turbulence in the sales of Samsung’s flagship Galaxy S9 smartphone, the Korean company’s revenue appears to be on a steady rise.
Kim Yang-Jae, KTB Investment & Securities analyst commented, “Demand for servers canceled out the effect of slow sales for iPhone X and premium Chinese smartphones. Demand is exceeding market expectations.”
By and large, Samsung is set to release its financial statements this month with the final figures.