South Korean tech giant Samsung Electronics (OTC:SSNLF) expects more than 53% growth in Q2 operating profit, driven by strong demand for memory chips and operations resuming at a key US factory.

The company sees sales of ~KRW63T and operating profit of ~KRW12.5T.

Rival LG Electronics, South Korea's second-largest appliance firm after Samsung, expects a 65.5% jump in operating profit for Q2 to KRW1.1T.