Samsung Electronics Achieves Record Profit Amid AI Chip Demand
Samsung Electronics posts record quarterly profit on AI boom
The Economic Times
Image: The Economic Times
Samsung Electronics, the South Korean tech giant, reported a record operating profit of 57.2 trillion won (approximately $38.4 billion) for the first quarter, driven by soaring sales of AI-related chips. This marks a 750% increase year-on-year, with net profit reaching 47.1 trillion won and total sales hitting an all-time high of 133.9 trillion won.
- 01Samsung's operating profit surged 750% year-on-year to 57.2 trillion won.
- 02Net profit attributable to shareholders reached 47.1 trillion won, exceeding analyst expectations.
- 03Sales hit a record 133.9 trillion won, marking the highest quarterly sales in the company's history.
- 04The semiconductor division contributed significantly with an operating profit of 53.7 trillion won.
- 05South Korea aims to be among the top three AI powers globally, with Samsung playing a crucial role.
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Samsung Electronics reported a record operating profit of 57.2 trillion won (approximately $38.4 billion) for the first quarter of the year, a staggering 750% increase compared to the same period last year. The net profit attributable to shareholders reached 47.1 trillion won, surpassing forecasts from analysts surveyed by Bloomberg. Total sales also hit an all-time high of 133.9 trillion won. The company's semiconductor division was a major contributor, posting an operating profit of 53.7 trillion won. Samsung attributed its success to innovations in AI technology and a proactive market response, particularly in addressing the growing demand for high-value AI chips, despite limited supply. The South Korean government has expressed its ambition to position the country among the top three AI powers globally, alongside the United States and China. Following these impressive earnings, South Korea's benchmark Kospi stock index opened at a record high of over 6,700.
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Samsung's record profit indicates a robust demand for AI technology, which could lead to increased job opportunities in the tech sector and further investments in AI infrastructure.
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