South Korea’s Samsung Electronics Co. Ltd. reportedly has toppled American tech giant Intel Corp. as world’s largest chip maker by revenue.
Samsung, known for its smartphones and televisions, has ousted Intel from a title it held for nearly a quarter-century, The Wall Street Journal reported.
Samsung is expected to maintain its lead at least through the end of this year amid a shortage of memory chips, WSJ.com explained.
Samsung’s semiconductor unit posted second-quarter sales of $15.7 billion and operating profit of $7.1 billion. Intel reported quarterly revenue of $14.8 billion and operating profit of $3.8 billion.
Samsung for years had been a distant runner-up to Intel in the $365 billion semiconductor industry, according to IC Insights Inc., a semiconductor-market researcher.
Samsung expects the memory chip boom is expected to continue in the third quarter, as revenue is widely expected to benefit from sales of OLED screens to Apple Inc.