Samsung on Wednesday said in its earnings guidance it recorded 63 trillion won in sales and 12.5 trillion won in operating profit during the second quarter of 2021.
It is an increase of 19% and 53.4%, respectively, from the same time period a year prior. It is also Samsung's highest operating profit in nearly three years.
South Korean analysts said high demand for semiconductors is what propelled the growth. Samsung's chip business is thought to have contributed over half of the company's operating income for the quarter.
Memory semiconductor prices jumped in the second quarter and demand for them remained solid in PC and servers due to the pandemic, analysts said.
Samsung will announce its full earnings report near the end of the month.
Meanwhile, Samsung also announced it will be trialling 5G virtualised RAN (vRAN) on 26GHz spectrum in Australia with local telco TPG Telecom.
The South Korean tech giant's vRAN solution will be tested at the telco's new Innovation Lab in Glebe. The company's 5G mmWave base stations will also be deployed throughout the suburb.
TPG said the lab would contain an onsite data centre and rooftop mobile site, which would allow its partners to test vRAN, mobile edge computing, private mobile networks, and Open RAN.
"We are talking about utilising augmented reality and virtual reality for smart training, low latency remote control for mining and transportation, and smart city applications in collaboration with artificial intelligence and machine learning," TPG executive general manager for mobile and fixed networks Barry Kezik said.
"Having the ability to partner and trial different radio technology with different vendors within the Innovation Lab allows for greater ease in benchmarking performance."
Samsung touted that its 5G vRAN on mmWave has already been deployed in South Korea, Japan and the US.
According to Samsung, TPG Telecom's abundance of mmWave spectrum, thanks to its recent announcement to invest AU$108 million to acquire spectrum in the 26GHz band, and extensive fibre assets and small cells will enable the deployment of the vRAN architecture.
Samsung's network business launched in Australia in April, which will primarily focus on mmWave for 5G.