Samsung Electronics Q2 profit rises 73%

Chips were Samsung's top earner in the three months through June

Samsung Electronics said a memory chip boom that propelled it to record profit in Q2 is likely to continue in the third, just as revenue is widely expected to benefit from sales of OLED screens to Apple.

The world’s biggest maker of memory chips, smartphones and TVs is set to smash its annual profit record after better-than-forecast performance in its mobile business lifted April-June profit slightly above its early-July guidance, analysts said.

“Looking ahead to the third quarter, the company expects favourable semiconductor conditions to continue,” Samsung said in a statement on Thursday. “Although overall earnings may slightly decline quarter-on-quarter