Samsung Electronics expects earnings for the first three months of 2024 to grow tenfold compared to the previous year, thanks to the recovery in chip prices and growing demand for artificial intelligence-related products. As the world's largest manufacturer of memory chips, smartphones and televisions, Samsung expects an operating profit of 6.6 trillion won (about $4.9 billion) in the January-March quarter alone, an increase of 931% compared to the same period in 2023.
The company will publish a detailed financial report on April 30. The recent earthquake that hit Taiwan and temporarily put chip production at risk could help influence global supplies, further favoring the South Korean giant.
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