Samsung Electronics has launched its second-quarter earnings, reporting 20 p.c larger income and 54 p.c larger working revenue year-on-year regardless of its cell division taking successful attributable to part shortages. The firm made an working revenue of 12.57 trillion gained (~$10.97 billion) off 63.67 trillion gained (~$55.56 billion) in income.

Samsung says its cell enterprise suffered from the industry-wide part scarcity in addition to “production disruptions” in its Vietnam factories, a few of which had been closed after a COVID outbreak. Combined with weak seasonality leading to much less demand, income declined from the earlier quarter, although it was nonetheless up year-on-year.

The semiconductor enterprise continues to be Samsung’s greatest monetary driver, contributing greater than a 3rd of the corporate’s income and greater than half of its income for the quarter. Samsung says reminiscence demand and value will increase had been larger than beforehand forecast, although cell reminiscence gross sales had been impacted by the identical points as seen by the smartphone division.

Looking ahead to the remainder of the yr, Samsung says it’ll “solidify its leadership in the premium [smartphone] segment by mainstreaming the foldable category,” whereas the show division confirmed it’s engaged on under-screen digicam know-how. Samsung has an occasion set for August eleventh the place it’s mentioned it’ll announce new telephones within the Galaxy Z Fold and Z Flip strains.