Samsung made a huge leap in profit last quarter, reported AP. Samsung Electronics has revealed a remarkable tenfold surge in operating profit for the last quarter, propelled by the proliferation of artificial intelligence technologies boosting the markets for computer memory chips.
The South Korean company disclosed an operating profit of 6.6 trillion won ($4.8 billion) for the January-March quarter, a substantial leap from the 640 billion won ($465 million) garnered during the same period last year.
Revenue ascended by nearly 13% to 71.9 trillion won ($52 billion), fuelled by elevated prices for memory chips and robust sales of its premier Galaxy S24 smartphones, the company divulged.
The semiconductor arm earned 1.91 trillion won ($1.38 billion) in operating profit, marking its inaugural quarterly profit since the fourth quarter of 2022, as the chip market continues its convalescence from a cyclical downturn exacerbated by the COVID-19 pandemic and global trade tensions.
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Samsung anticipated a robust outlook for the memory chip market in the forthcoming months, driven by the proliferation of generative AI technologies, which is amplifying demand for both traditional chips utilised in servers and cutting-edge chips tailored for AI processing, including high-bandwidth memory.
