Samsung logs 12% profit increase in 2Q on strong chip demand

SEOUL, South Korea (AP) — Samsung Electronics Co. has reported its operating profit rose 12% in the April-June quarter thanks to strong demand for server chips. The world’s top producer of smartphones and memory chips said in a statement Thursday that its operating profit for the last quarter rose to 14.1 trillion won ($10.8 billion) and its consolidated revenue climbed to a second-quarter record of 77.2 trillion won ($59 billion). The strength of the U.S. dollar against the Korean won benefited its components businesses, giving Samsung a 1.3 trillion won ($1 billion) company-wide gain in operating profit compared to the previous quarter.