Samsung Q2 profit surges due to AI demand, operating profit likely at 10.4 trillion won

From Investing.com: 2024-07-04 20:33:20

Samsung Electronics Co Ltd experienced a surge in second-quarter profit due to AI-driven demand for memory chips and devices. Operating profit likely reached 10.4 trillion won, up from 670 billion won last year, surpassing estimates. Sales also rose to 74 trillion won. The growth is attributed to increased demand for memory chips from the AI industry and flagship S-series smartphones benefiting from AI integration. Samsung plans to mass produce advanced HBM chips to cater to the growing market demand.



Read more at Investing.com: Samsung Q2 profit surges 15-fold on strong AI demand By Investing.com