Samsung Sees Profit Jump 10-Fold on Memory Chip Recovery | Vantage with Palki Sharma
South Korea's Samsung has seen profits jump 10-fold in first quarter of 2024. The company earned operating profits of $4.8 billion, which is a jump of nearly 933% compared to last year. Samsung's overall revenue rose to $52 billion, which is an increase of 13%. Samsung is gaining huge profits thanks to the memory chip recovery. The prices of chips have recovered after the post-pandemic slump. Global memory chip prices have risen by a fifth in the last year. Additionally, there is greater demand for AI related products, which is boosting Samsung sales. Because artificial intelligence models need memory chips for their complex datasets. Palki Sharma tells you more in this report.
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Samsung | Profits | Chip | Artificial Intelligence | Firstpost | World News | News Live | Vantage | Palki Sharma | News
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