The strong results come despite an on-quarter decline in Samsung's earnings from its smartphone business because of supply chain problems that disrupted global production. Samsung Electronics is the flagship subsidiary of the giant Samsung group, by far the largest of the family-controlled empires that dominate business in South Korea, the world's 12th largest economy. The conglomerate's overall turnover is equivalent to one-fifth of gross domestic product. Analysts say the chip unit's proportion of the firm's profit is likely to grow in the months ahead. "Samsung will benefit from memory chip prices that are likely to go higher in the third and fourth quarter," Park Sung-soon, an analyst at Cape Investment & Securities, told AFP. The firm anticipates favourable market conditions for the rest of the year, with continued demand for memory chips in the server and mobile markets.