Samsung reports 10
Time:2024-04-30 19:58:54 Source:styleViews(143)
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.
You may also like
- Martin Freeman breaks his silence on the fierce backlash surrounding THAT X
- China Keeps Semifinal Hope Alive in Olympic Women's Team Curling
- Children View Lanterns at Lantern Making Center in Hebei
- 2nd Chinese People's Police Day Marked Across China
- Chinese foreign ministry official on US Secretary of State Blinken's visit to China
- China Issues List of Universities for Top
- China Records 130 Mln Passenger Trips in Spring Festival Holiday
- Square Dancing to Feature Ahead of Beijing 2022 Opening Ceremony, Says Director
- China home to 369 unicorn enterprises: report