Tech Giants See Profit Despite Global Chip Shortage

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As economies around the world reopen with the introduction of vaccines, major electronics manufacturers around the world are struggling to meet current demands as the chip shortage hits the tech industry. Despite this significant setback, big tech companies continue to make profits. An early barometer of the tech industry’s continued financial strength showed that Samsung Electronics Co. posted a 44% increase in operating profit despite weeks of wiping out US chip production.

In the first months of 2021, Samsung’s mobile phone business flourished by bringing forward the launch of its Galaxy S21 by a month after the normal release date. Not only that, Samsung also benefited from a weakening Huawei Technologies plus LG Electronics Inc. “s signal to leave the mobile phone industry.

For more information, read the <a href=”https://www.wsj.com/articles/big-tech-companies-prosper-despite-chip-shortage-11617810565?mod=tech_lead_pos4″ target=”_blank” rel=”noopener”>original story</a> in the Wall Street Journal

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