Samsung: The tech giant’s profits have increased by over 900%.

According to Samsung Electronics, the company anticipates a more than ten-fold increase in profits for the first three months of 2024 over the same period the previous year.

Samsung: The tech giant's profits have increased by over 900%.
Samsung: The tech giant’s profits have increased by over 900%.

 

It coincides with a rise in demand for AI-related products and a recovery in chip prices from their post-pandemic low.

based in South Korea The leading manufacturer of memory chips, smartphones, and televisions worldwide is Samsung.

On April 30, the corporation is expected to produce a comprehensive financial report.

The tech behemoth projected that its operating profit for the January–March quarter reached 6.6 trillion won ($4.9 billion; £3.9 billion), a 931% increase over the same time in 2023. That exceeded the about 5.7 trillion won estimate of analysts.

A recovery in semiconductor pricing on the international market following a sharp decline in prices a year earlier is anticipated to positively impact its profitability.

According to estimates, the cost of memory chips has increased globally by about 5% in the past year.

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