Samsung is also feeling the effects of the reluctance to buy as a result of inflation when it comes to smartphones and TV sets. But the persistently high demand for memory chips is making business boom.

Electronics giant Samsung posted strong gains for the second quarter of 2022 thanks to continued strong chip demand.

In its earnings forecast for the period from April to June, the world market leader in memory chips, smartphones and televisions expects operating profits to increase by 11.4 percent. The South Korean company announced on Thursday that profits from its core businesses are expected to reach 14 trillion won (about 10.5 billion euros).

Samsung Electronics expects sales to increase by 21 percent to 77 trillion won (58 billion euros). Samsung traditionally only presents exact business figures at a later date.

The demand for capacity in data centers is primarily driving earnings in the semiconductor division. The business with memory chips had already exceeded market forecasts in the first quarter.

On the other hand, according to experts, business with smartphones and TV sets slowed down worldwide. Accordingly, consumer restraint as a result of high inflation made itself felt in these areas. As South Korean news agency Yonhap reported, Samsung sold an estimated 61 million smartphones in the second quarter. That would be a decrease of 16 percent compared to the previous quarter.