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Samsung Electronics expects operating profits in the second quarter to rise 11.4 percent, the South Korean tech giant said in a statement yesterday, despite ongoing global supply chain woes.       

The world's biggest smartphone maker forecast 2022 second-quarter operating profits of about 14 trillion won ($10.7 billion), up from 12.6 trillion won in the same quarter last year.    

South Korean tech giant Samsung Electronics posted a 58.57 percent rise in first-quarter net profits yesterday, largely driven by steady memory chip demand and brisk smartphone sales.

Samsung Electronics expects operating profits for the first quarter to rise 50.3 percent, the South Korean tech giant said in a statement yesterday, despite global supply chain woes.

The world's biggest smartphone maker forecast 2022 first-quarter operating profits of about 14.1 trillion won ($11.6 billion), up from 9.4 trillion won in the same quarter last year.

Samsung Electronics is predicted to gain overwhelming advantage in the foldable phone market, which is expected to grow rapidly. It is a result that Samsung has continued to release foldable phones, lead-related technologies and pre-occupy the market shares.