Samsung Electronics announced its optimistic outlook for the second half of the year, citing strong demand for artificial intelligence as a driving force. The company predicted that this demand would continue to fuel sales of memory chips and tech devices in the coming months. This announcement came as Samsung reported a more than 10-fold increase in first-quarter operating profit, with revenue reaching 71.9 trillion won.
The surge in memory chip sales in the first quarter was attributed to rising prices and strong demand, particularly in the field of AI technology. Samsung noted that business conditions are expected to remain positive in the second half of the year, with demand for generative AI leading the way. Despite facing challenges related to macroeconomic trends and geopolitical issues, Samsung’s chip division saw a remarkable turnaround in the first quarter, swinging back to profitability with 1.91 trillion won in profit compared to a 4.58 trillion won loss a year earlier. Overall, Samsung reported a 13% increase in revenue for the first quarter, reaching 71.9 trillion won. The company saw a 96% increase in memory chip revenue, which totaled 17.49 trillion won, signaling a strong recovery from the memory chip downturn experienced in recent years.