Samsung on Wednesday stated first-quarter profit likely increased 44%, with analysts attributing the surge to quick sales of smartphones plus TVs, albeit tempered with a likely fall in chip benefit after a storm halted US output.

The particular South Korean technology large forecast January-March operating profit of $8. 32 billion, matching a weighted average analyst forecast from Refinitiv SmartEstimate.

According to Reuters , analysts said Samsung’s mobile division probably saw operating profit climb more than 1 trillion won to about 4. fifteen trillion won after the flagship Galaxy S21 smart phone series outsold the previous version by a two-to-one margin within the six weeks since its The month of january launch, according to research provider Counterpoint.

A lesser starting price for the flagship helped sales for the world’s largest smartphone maker throughout the quarter, with the S21 priced $200 lower than the S20, Counterpoint said.

Profit in Samsung’s television set and home appliance company also likely more than doubled to around 1 trillion won, analysts said, due to carried on stay-at-home demand.

Cross-town TV and home appliance rival LG Electronics on Wednesday announced the largest-ever preliminary quarterly working profit of 1. 5 trillion won for January-March.

In Samsung’s nick division, analysts said profit likely fell 20% in order to 3. 6 trillion gained due to the cost of ramping up domestic production as well as losses at its Texas place following a mid-February stoppage, blunting the benefits of strong demand.

US memory chip peer Micron Technology Inc last month forecast third-quarter revenue above analyst estimations due to rising demand caused by a global shift to remote control work.

The price of DRAM chips widely used within laptops and other computing devices accepted 5. 3% in January-March from the previous three months, showed data from TrendForce. Experts expect that trend to keep as a global chip lack spurs on buyers to snap up supplies.

Prices are likely to rise further in the present quarter due to solid need for servers, ” said analyst Park Sung-soon at Cape Investment & Securities.

Samsung expects first-quarter profits to increase 44%: analysts