Samsung predicts continued strong demand for memory chips for AI servers in the second half of the year.
South Korea’s Samsung Electronics’ net income rose nearly sixfold to 9.84 trillion won ($7.11 billion) in the second quarter of 2024, from 1.72 trillion won in the same period last year. This is stated in the company’s reporting.
The company’s operating profit increased nearly 16 times to 10.44 trillion won. R&D investment reached 8.05 trillion won.
Revenue rose 23% to 74.07 trillion won.
Samsung predicts continued strong demand for memory chips for AI servers in the second half of the year.
The company’s stock quotes rose 3.6% following trading on Tuesday, July 30th.
It will be remembered that in the first quarter of 2024, the South Korean giant Samsung has become the largest smartphone supplier in the world.
The American manufacturer Apple fell out of the top five smartphone sales leaders in China for the first time in four years, and the iPhone gave way to models from Chinese phone manufacturers, in particular Huawei.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.