Samsung’s profit leaps  by 52 per cent as Global chip shortage sets in

 

Samsung Electronics, the world’s biggest memory chip maker is expected to post a 52 per cent profit for the last three months of 2021, amid the global chip shortage. It made 13.8tn chips earning them £8.bn in the fourth quarter.

The global shortage of semiconductors has been causing major disruptions for manufacturers  from carmakers that have had to suspend production to Apple warning that iPhone shipments would be delayed.

Shares in Samsung Electronics were trading around 1.8 per cent higher in Seoul on Friday.

Samsung has chosen the city of Taylor in Texas for its new $17bn (£12.7bn) computer chip plant  to be operational by the second half of 2024. Chips made at the new facility will be used in a range of technologies including mobile, 5G, high-performance computing and Artificial intelligence. The South Korean Samsung is one of the world’s largest chipmakers with more than 20, 000 employees across the US.