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 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 ($52 billion), driven by higher prices for memory chips and robust sales of its flagship Galaxy S24 smartphones, the company said.
The company earned 1.91 trillion won ($1.38 billion) in operating profit from its semiconductor business, marking the division’s first quarterly profit since the fourth quarter of 2022, as the chip market continues to recover from a cyclical slump deepened by the COVID-19 pandemic and global trade tensions.
Investigators return to Long Island home of Gilgo Beach serial killing suspect
In new movie, the South started the Korean War, as Pyongyang has always claimed — Radio Free Asia
Program targets lunar resources
China prepares to launch Tianzhou
Supreme Court rejects an appeal from a Canadian man once held at Guantanamo
China's satellite launch suffers abnormality
U.S. moon lander Peregrine completes re
I was 'brokefished' by my friend for £400