Samsung Profit Surges 44% as Mobile Sales Cushion Fab Loss

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Samsung Electronics Co.'s profit for the first quarter rose 44% from the prior year as the early release of a new flagship smartphone and strong gadget sales softened the blow from a Texas power failure that took one of its factories offline.
Shares were down about 0.5% in Seoul on Wednesday morning.

The world's largest memory maker had warned about profitability declining in the first quarter, anticipating weaker demand, but instead the economic rebound from the pandemic happened faster than expected and semiconductor prices are now on the rise.​ "Improving DRAM supply-demand conditions will boost the profits," said Bloomberg Intelligence analyst Masahiro Wakasugi, adding that "the launch of next-generation DRAM, DDR5 (double data rate 5), in 2H21 may stimulate demand, further boosting the sales."

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