Samsung Electronics expects a more than 15-fold increase in second-quarter operating profit, as memory chip prices continue their recovery from last year’s slump on strong demand for artificial intelligence.
The world’s largest maker of memory chips by sales estimated on Friday that operating profit jumped 1,452 per cent to Won10.4tn ($7.5bn) in preliminary numbers for the April-June quarter, the highest since the third quarter of 2022.
That was much better than analysts’ expectations of Won8.8tn, according to LSEG SmartEstimates. Sales increased 23 per cent to Won74tn from a year earlier.
Demand has surged for advanced D-ram chips, such as high bandwidth memory chips used for training AI models and those used in data centres.
