Samsung Electronics said on Tuesday it expects first-quarter operating profit to jump sharply, underscoring the strength of a global semiconductor upcycle, while LG Electronics reported record quarterly revenue and better-than-expected profit on resilient demand for its core businesses.

Samsung estimated consolidated revenue of $88.3 billion (133 trillion won) and operating profit of $38 billion (57.2 trillion won) for the first quarter, up 68.1% and 755% respectively from a year earlier. LG reported revenue of $15.8 billion (23.73 trillion won) and operating profit of $1.1 billion (1.67 trillion won), rising 4.4% and 32.9% year-on-year.

LG said profitability improved despite rising raw