South Korean tech giant Samsung Electronics reported on Thursday an earnings surprise for the second quarter.
Its operating profit was over 10.nine billion U.S. dollars a roughly 54-percent increase on-year.
This is its highest profit in 11 quarters with over half of this coming from semiconductors.
And the company's sales were over 55 billion dollars the highest figure ever recorded in the second quarter.
"Due to rising prices and increasing shipments in the semiconductor sector, sales in this business went up. Another factor is the impact of the coronavirus, which led to a boom in premium home appliances and TVs. The sales have continued to grow since the second half of last year."
Demand for PC semiconductors has increased during the pandemic with more people working or studying from home.
But profits from mobile devices fell by more than 870 million dollars mainly because the sector saw high profits in the previous quarter from the early release of the Galaxy S21.
Meanwhile, LG Electronics announced its sales figures, which were its best ever for the second quarter, coming in at roughly 15 billion dollars.
That led to second quarter earnings of more than 970 million dollars up 65.5 percent on-year.
"LG Electronics is celebrating a golden age in the field of home appliances thanks to its innovative design and creative products. The image of premium home appliances is getting noticed in the U.S. and Europe."
The home appliance sales of LG Electronics surpassed that of its U.S. rival Whirlpool making LG the number one brand in the global home appliance market for the first half of this year.
Jang Tae-hyun, Arirang News.