This Tuesday (30) Samsung announced that its operating profit increased by more than 10 times in the first quarter of 2024 compared to the same period last year. According to the company, growth occurred as follows: due to high demand for memory chips from the artificial intelligence (AI) market.
The South Korean giant’s operating profit in the January-March period increased from US$ 465 million in 2023 to US$ 4.8 billion in 2024. The company’s total revenue increased by approximately 13% to $52 billion. This growth was supported by rising memory chip prices. Besides the good sales of Galaxy S24 mobile phones.
It is important to emphasize that these gains also reflect the recovery in the chip market, which suffered significant losses during the Covid-19 pandemic and due to global trade tensions. In the semiconductor segment, Samsung made a profit of US$ 1.38 billion. This was the company’s first quarterly profit in this segment since the last quarter of 2022.
New Galaxy Watch 7 with growth trend and artificial intelligence
Samsung said the memory chip market will continue to be driven by demands from the artificial intelligence segment. Since technology forms the basis of the main features of the Galaxy S24 series devices, it is also investing heavily in the sector.
The South Korean noted that the AI market will continue to need HBM (high-bandwidth memory), which is used in advanced equipment solely for AI processing, as well as simple memory chips used in servers.
Therefore, the company has already announced that it will expand into this type of business, where it plans to capture a larger market share from this year. Samsung said it started mass production of its newest HBM chips, called 8-layer HBM3E, this April. It plans to start producing a 12-layer version of the chips in the second quarter.
One sign that Samsung may be right about the growth of its AI segment is that it could launch new products with this technology later this year. One of them The new Galaxy Watch 7, which can be released in three versions, Beyond the Galaxy Ring.
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Source: Tec Mundo
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