South Korean tech company Samsung Electronics today announced net profits of 11.1 trillion won (€8.32 billion) between April and June, up 15.3% year-over-year.

Samsung, based in Suwon, south of Seoul, achieved EBITDA (earnings before interest, taxes, depreciation and amortization) of 14.46 billion won (10.85 billion euros) in the second quarter of the year, up 12.3% from the same period in 2021, according to a financial report released by the company and cited by Lusa.

As for operating profit, it stood at 14.1 trillion won (€10.58 billion), up 12.21TP2Q, while sales revenue saw year-on-year growth of 21.21TP2Q, to 77.2 trillion won (€54.15 billion).

This is the fourth consecutive quarter that the world's largest maker of memory chips and smartphones has posted sales of more than 70 billion won (about 52.6 billion euros), helped by continued demand for chips, especially for servers, as well as key mobile models and a favorable currency exchange rate.

The company's semiconductor department achieved sales of 28.5 trillion won (€21.37 billion), up 23.6%, and the operating profit of this division grew 44% to 9.98 trillion won (€7.48 billion).

The cell phone business, while posting solid sales growth of 12.2% year-on-year to 7.71 trillion won (€5.78 billion), saw profitability and operating profit slow down, contracting 17.2% year-on-year to 1.06 trillion won (about €795 million).