Samsung likely to report highest Q1 profit since 2018 on chips

Operating profit for the world's biggest smartphone and memory chip maker likely hit 13.3 trillion won ($10.9 billion) in the quarter ended in March, according to a Refinitiv SmartEstimate from 13 analysts, which is weighted toward those who are more consistently accurate. That would be up 41% from 9.38 trillion won a year earlier and the highest profit for its comparatively sluggish first quarter since 2018.

The South Korean tech giant will announce preliminary results on Thursday.

Samsung's Q1 chip profit is likely to reach 7.6 trillion won, more than double the previous year's 3.37 trillion won, according to an average forecast of six analysts.

Its chip business contributes about half of the tech giant's profits.