Samsung reports 10
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
US overdose deaths dropped in 2023, the first time since 2018
NEW YORK (AP) — The number of U.S. fatal overdoses fell last year, according to Centers for Disease2024-05-21Feature: Blind engineer opens up new vistas with computer game design
(Xinhua) 09:45, December 22, 2023Shen Guangrong works at the Accessibility Research Association in S2024-05-21Former senior Chongqing municipal legislator indicted for bribery
(Xinhua) 16:48, January 25, 2024BEIJING, Jan. 25 (Xinhua) -- Zheng Hong, former vice chairman of the2024-05-21News organizations urge Biden and Trump to commit to presidential debates during the 2024 campaign
NEW YORK (AP) — Twelve news organizations on Sunday urged presumptive presidential nominees Joe Bide2024-05-21Strictly star Giovanni Pernice's former partner Rose Ayling
Giovanni Pernice has been dealt a fresh blow after friend and former Strictly dance partner Rose Ayl2024-05-21McCormick gets Trump's endorsement in Pennsylvania's Senate race despite awkward history
Former President Donald Trump endorsed U.S. Senate candidate David McCormick of Pennsylvania on Satu2024-05-21
atest comment