SEOUL, July 7 (Xinhua) — South Korea’s tech behemoth Samsung Electronics logged its second-highest revenue in the second quarter due to robust demand for memory chips, the company said Thursday.

Preliminary revenue came to 77 trillion won (59.3 billion U.S. dollars) in the April-June quarter, up 20.9 percent from the same quarter of last year.

It was slightly down from a record high of 77.78 trillion won (59.9 billion U.S. dollars) in the first quarter of this year, but it was the second-highest quarterly revenue in the company’s history.

Preliminary operating profit increased 11.4 percent over the year to 14 trillion won (10.8 billion U.S. dollars) for the second quarter.

Revenue roughly met market expectations, but operating profit missed market consensus of about 14.7 trillion won (11.3 billion U.S. dollars).

Net income and detailed earnings on each business unit will be announced later this month after an external audit and the board of directors’ approval.

Samsung’s revenue kept a record-breaking trend for three straight quarters through the first quarter of this year on the back of solid demand for semiconductors.

The strong chip demand offset uncertainties at home and abroad, such as the prolonged geopolitical risks in Europe, rising inflationary pressures and growing concerns about global economic recessions.

The company’s chip-making division was estimated to have posted an operating profit of about 10 trillion won (7.7 billion U.S. dollars) in the second quarter.

The semiconductor profit accounted for over 70 percent of Samsung’s total operating profit.

It was driven by solid demand for server chips, countervailing lower demand for chips used for mobile devices and personal computers.

Operating profits for smartphone and home appliances businesses were estimated to have retreated in the second quarter on soft global demand, caused by mounting worry about high inflation and economic downturn.

Market estimates showed that Samsung shipped around 61 million smartphones in the April-June quarter, dipping from 73 million smartphones sold in the previous quarter.

The shipment of Samsung TVs was estimated to have declined 28 percent in the second quarter from three months earlier.

The South Korean currency’s descent to the U.S. dollar was believed to have propped up Samsung’s export proceeds, contributing to the second-quarter earnings.

The won/dollar exchange rate averaged 1,260 won per dollar in the second quarter, up 12 percent from a year ago.

Market watchers painted a gloomy picture for Samsung earnings in the second half on rising expectations for global economic slump that would cut chip demand.