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Samsung Electronics Co Ltd GDR SMSN

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Favorable Memory Pricing Continues Following Robust Server Demand; FVEs Maintained

Analyst Note

| Kazunori Ito |

We raise memory suppliers’ earnings forecasts for 2021 and 2022 based on the better-than-expected June quarter results and our view that tight supply-demand balance will continue at least for the next few quarters. Meanwhile, we expect the following downturn in 2023 and 2024 may offset the upbeat numbers in 2021 and 2022.

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Company Profile

Business Description

Samsung Electronics is a diversified electronics conglomerate that manufactures and sells a wide range of products, including smartphones, semiconductor chips, printers, home appliances, medical equipment, and telecom network equipment. About 52% of its profit is generated from semiconductor business, and a further 30%-35% is generated from its mobile handset business, although these percentages vary with the fortunes of each of these businesses. It is the largest smartphone and television manufacturer in the world, which helps provide a base demand for its component businesses, such as memory chips and displays, and is also the largest manufacturer of these globally.

Contact
129, Samsung-ro, Yeongtong-gu
Suwon-si, 443-742, Korea, Republic of
T +82 312001114
Sector Technology
Industry Consumer Electronics
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 111,683

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