Samsung: Tech giant sees profits jump by more than 900% - BBC News

Chip prices recover from a post-pandemic slump while demand for AI-related products booms.

10 hours agocommentsCommentsShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesBy Mariko OiBusiness reporterSamsung Electronics says it expects its profits for the first three months of 2024 to jump by more than 10-fold compared to a year earlier.

It comes as prices of chips have recovered from a post-pandemic slump and demand for artificial intelligence (AI) related products booms.

South Korea-based Samsung is the world's largest maker of memory chips, smartphones and televisions.

The company is scheduled to release a detailed financial report on 30 April.

The technology giant estimated that its operating profit rose to 6.6 trillion won ($4.9bn; £3.9bn) in the January-March quarter, 931% higher than the same period in 2023. That beat analysts' expectations of around 5.7 trillion won.

https://www.bbc.co.uk/news/business-68738046

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