Key facts
- Samsung Electronics estimates Q2 operating profit at 89.4 trillion won, a 1,810.3% increase year-over-year.
- Revenue for Samsung Electronics in Q2 rose 129.3% to 171 trillion won.
- SK Hynix intends to list on Nasdaq with an offering valued at $28 billion.
- Funds from SK Hynix's listing will support chip factory expansion and equipment acquisition.
- Samsung appliance workers are set to rally on July 16 over bonus discrepancies compared to chip workers.
Samsung Electronics Co. estimated its second-quarter operating earnings at 89.4 trillion won ($58.5 billion), a significant 1,810.3 percent increase from the previous year, driven by surging demand for AI memory chips. Revenue also saw a substantial jump of 129.3 percent to 171 trillion won. The company's operating profit exceeded average estimates surveyed by Yonhap Infomax.
In parallel, SK Hynix is planning a $28 billion U.S. listing on the Nasdaq stock exchange. The funds raised from this offering are intended to finance the expansion of its chip factories and the acquisition of new equipment, capitalizing on the ongoing AI boom.
Separately, Samsung appliance workers are scheduled to rally on July 16 to protest the disparity in bonuses compared to chip workers, who are expected to receive significantly larger payouts.