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.
Related articles:
Related suggestion:
Expert calls for enhancing multilateral cooperation in S&T, green developmentEgypt trials 1st fleet of electric taxis in New Administrative CapitalHong Kong to host FIBA 3x3 World Tour FinalBarcelona beat Real Sociedad to move secondChina's int'l railJuventus win Coppa Italia final with early Vlahovic strikeEgypt trials 1st fleet of electric taxis in New Administrative CapitalNearly 30,000 Chinese tourists visit Sri LankaNearly 30,000 Chinese tourists visit Sri LankaUkraine welcomes long
2.6477s , 6515.3125 kb
Copyright © 2024 Powered by Samsung reports 10 ,Stellar Scope news portal