Samsung flags 15-fold rise in second-quarter profit as chip prices climb

Samsung flags 15-fold rise in second-quarter profit as chip prices climb, Samsung Electronics estimated on Friday a more than 15-fold rise in its second-quarter operating profit, as rebounding semiconductor prices driven by the artificial intelligence boom lifted earnings from a low base a year ago.

The world's largest memory chip and TV maker estimated its operating profit rose to 10.4 trillion won ($7.54 billion) in the quarter ended June 30, from 670 billion won a year earlier, the South Korean firm said in a short preliminary earnings statement.

($1 = 1,379.8700 won)