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Samsung rides Q1 2018: memory biz is booming, profits soar

Samsung is set to make new records for Q1 2018, riding its memory business and strong Galaxy S9 sales.

@anthony256
Published Fri, Apr 6 2018 9:59 PM CDT   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Samsung has had a massive first three months of 2018, with a huge 58% increase in profit and demand for its memory chips through the roof, more than enough to offset Apple's reduced requirement of displays for iPhone X.

Samsung rides Q1 2018: memory biz is booming, profits soar | TweakTown.com

Bloomberg is reporting that Samsung's operating income reached $14.7 billion in Q1 2018, compared to $13.5 billion that analysts expected Samsung to report. Samsung sold through a huge $56.4 billion in Q1 2018, with these sales including the new Galaxy S9 and the near unlimited want for memory across the world with ASIC miners and graphics cards.

Samsung became the world's largest chipmaker by sales late last year, besting Intel, but memory is where Samsung is making its strides lately. Lee Jay-yun, an analyst with Yuanta Securities Co. explains: "Memory chips are the loyal son of Samsung. Still, momentum may slow toward the end of this year with price rises likely to be less steep than last year".

NEWS SOURCE:bloomberg.com

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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