Samsung Electronics on Tuesday reported a 10-fold increase in operating profit for the last quarter as the expansion of artificial intelligence technologies drives a rebound in the markets for computer memory chips. The South Korean semiconductor and smartphone giant said its operating profit for the Jan-March quarter came in at 6.6 trillion won ($4.8 billion), up from the 640 billion won ($465 million) it earned during the same period last year. Revenue rose by nearly 13% to 71.9 trillion won...
Samsung Electronics forecast a turnaround in the global smartphone market in the second half of 2024, driven by stabilising consumer sentiment and growth in emerging markets, with a similar rebound expected in tablets and wearables.
Samsung is the latest company to profit from AI demand, as its profits have increased more than fourfold compared to a year earlier.
Samsung Electronics reported a strong Q1 2024 financial performance. Memory chip sales rebounded, driving operating profit by over 930%, driven by demand for AI-specific servers, memory chips, and storage solutions.
Samsung posted its detailed financial results today for the first quarter of 2024, and it's really positive. The Korean giant reported an operating profit of KRW6.61 trillion ($4.85 billion), which is a tenfold increase over the same period last year. A major reason why profit is back to 2022 levels are the strong sales of flagship Galaxy S24 phones and higher prices for memory semiconductors, the report states. Overall revenue also rose 13%. Expectations for the second quarter are that...
Samsung Electronics said on Tuesday that its operating profit surged more than 930% in the first quarter of 2024, driven by soaring demand for its servers, memory chips and storage used in AI applications. The company, which struggled in 2023 as the macroeconomic slowdown hurt demand for its products, said its memory chip business returned to […] © 2024 TechCrunch. All rights reserved. For personal use only.
Samsung Electronics on Tuesday reported a 10-fold increase in operating profit for the last quarter as the expansion of AI technologies drives a rebound in
SEOUL, South Korea (AP) — Samsung Electronics on Tuesday reported a 10-fold increase in operating profit for the last quarter as the expansion of artificial intelligence technologies drives a rebound
SEOUL, South Korea (AP) — Samsung Electronics on Tuesday reported a 10-fold increase in operating profit for the last quarter as the expansion of artificial intelligence technologies drives a rebound in the markets for computer memory chips. The South Korean semiconductor and smartphone giant said its operating profit for the Jan-March quarter came in at
SEOUL, South Korea (AP) — Samsung Electronics on Tuesday reported a 10-fold increase in operating profit for the last quarter as the expansion of artificial intelligence technologies drives a rebound in the markets for computer memory chips. The South Korean semiconductor and smartphone giant said its operating profit for the Jan-March quarter came in at
Samsung Electronics on Tuesday reported a 10-fold increase in operating profit for the last quarter as the expansion of artificial intelligence technologies drives a rebound in the markets for computer memory chips
Samsung reports a 10-fold increase in profit as AI drives rebound in memory chip markets