Samsung growth is attributed to the rebound in chip prices and the rising demand for generative AI|Hans Olav Lien|CC BY-SA 3.0
Samsung registered its fastest growth since 2010, the company announced Wednesday, with operating profits surging for the second consecutive quarter.
The world’s largest memory chip maker’s revenue for the quarter was 74.07 trillion Korean won (~$53.45 billion), a 23.42% increase from a year earlier.
Samsung’s operating profit jumped 1,458.2% from 670 billion Korean won for the same period a year earlier, exceeding market expectations.
The growth is attributed to the rebound in chip prices and the rising demand for generative AI.