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First reported by Seoul Economic Daily

Samsung Operating Profit May Top 100 Trillion Won, Nearing Global No. 1

Samsung forecasts 19-fold profit surge to $58.4bn on AI chip demand

Osmond Chia

6h ago· 5 min readenNews

technology business ai hardware semiconductors

Summary

Samsung Electronics expects a 19-fold jump in quarterly profits (89.4tn won / $58.4bn) driven by surging global demand for AI memory chips, marking its third record quarterly operating profit. However, the firm's shares fell sharply as some investors had anticipated an even stronger performance.

Source

Twitter / XSamsung forecasts 19-fold profit surge to $58.4bn on AI chip demandbbc.in

Key quotes

· 3 pulled

South Korean technology giant Samsung Electronics says it expects to post a 19-fold jump in its profits, driven by global demand for artificial intelligence (AI) memory chips.

The company forecast that it made 89.4tn won (£43.6bn; $58.4bn) between the start of April and the end of June, marking its third record quarterly operating

The firm's shares fell sharply on Tuesday as some investors had expected an even stronger performance.

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The firm's shares fell sharply on Tuesday as some investors had expected an even stronger performance.

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