Business is going well for the South Korean electronics company Samsung. Rising prices in the chip industry and the AI boom are driving significant growth.
Rising chip prices and the boom in artificial intelligence have given the electronics giant Samsung a significant jump in profits in the first quarter of 2024. The surplus increased year-on-year by more than four times to 6.75 trillion won (4.6 billion euros), as the South Korean company announced. Sales rose by 13 percent to 71.9 trillion won (48.8 billion euros). The chip division returned to profitability after an operating loss last year.
Samsung is the market leader in memory chips and televisions. According to calculations by market researchers, the South Koreans also regained the top spot in the smartphone market from Apple in the first quarter.
Source: Stern
