politics

Samsung reports 10

Font size+Author:International Interplay news portalSource:sport2024-05-01 01:42:44I want to comment(0)

SEOUL, South Korea (AP) — Samsung Electronics on Tuesday reported a 10-fold increase in operating pr

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
  • Closing prices for crude oil, gold and other commodities

    Closing prices for crude oil, gold and other commodities

    2024-05-01 00:34

  • Tāngarākau Gorge road to remain closed until mid

    Tāngarākau Gorge road to remain closed until mid

    2024-05-01 00:19

  • Cuts and closures in New Zealand's news media industry: What you need to know

    Cuts and closures in New Zealand's news media industry: What you need to know

    2024-05-01 00:18

  • Group calls on goverment to withdraw Accessibility for New Zealanders Bill

    Group calls on goverment to withdraw Accessibility for New Zealanders Bill

    2024-04-30 23:41

Netizen comments