Samsung Electronics says operating profits up 12.18% in Q2

SEOUL: South Korean chip powerhouse Samsung Electronics said Thursday that second-quarter operating profits were up 12.18 percent, with record profits in its system semiconductor division despite global supply chain woes.

In June, the company became the first chipmaker in the world to mass-produce 3-nanometre microchips as it sought to match and eventually outpace Taiwan's TSMC in the race to manufacture the world's most advanced chips. Samsung is the market leader in memory chips, but it has been scrambling to catch up with TSMC in the advanced foundry division, which makes high-tech microchips for other companies.

"Profitability decreased from the previous quarter at some degree due to rising costs of components and logistics as well as negative effects of foreign exchange movement," it added.

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