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:
Chinese President Receives Credentials of 70 AmbassadorsXi Congratulates Chuppu on Assuming Bangladeshi PresidencyTourism in Tibet expected to witness notable boomPeach flowers in full blossom at Mutianyu Great WallMalaysian plover seen in SingaporeWorld Wetlands Day: A glimpse of China's earth’s kidneysBeijing Zoo prepares facilities to help animals fend off summer heatIn pics: natural landscapes in AfricaJiangcun Village in East China's Jiangsu: sample of China's rural developmentChina strives to build stronger rural tourism
2.8365s , 6498.21875 kb
Copyright © 2024 Powered by Samsung reports 10 ,Cultural Compass news portal