16 Hrs
Source:
Sky News
Samsung's Q3 profits increase ninefold
Samsung Electronics' profits in the third quarter soared nearly eightfold compared to the same period last year, reaching approximately 107.4 trillion won ($80.17 billion), surpassing analysts' expectations. The main driver of this increase is the rising demand for AI chips, particularly high-bandwidth memory chips, due to a supply shortage and a surge in demand for AI infrastructure. The company also confirmed that third-quarter revenues are expected to increase by 127% to 195 trillion won, with fourth-quarter profits achieving record highs for the fourth consecutive quarter. This growth reflects the strong and ongoing expansion in the digital technology and artificial intelligence sectors.
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