Samsung Electronics reports all-time high quarterly profit and revenue, driven by soaring demand for AI and memory chips
SEOUL: Samsung Electronics posted a record quarterly profit on Thursday, riding strong market demand for its artificial intelligence chips.
The company posted its highest-ever quarterly consolidated revenue at KRW 93.8 trillion (USD 65.5 billion), representing a quarter-on-quarter increase of 9%. Operating profit was also an all-time high, at KRW 20.1 trillion.
Samsung said its annual revenue stood at KRW 333.6 trillion, while its operating profit came in at KRW 43.6 trillion.
The AI boom has pushed up prices and shipments of conventional chips. Demand for high‑bandwidth memory chips, used in AI servers, has soared particularly high.
This huge demand for chips to power AI has caused a shortage for consumer electronics. The shortage threatens higher prices for phones, laptops and other devices.
Samsung attributed its strong earnings to its Device Solutions division, which oversees its semiconductor business. Sales in the last quarter for this division rose 33%.
Its memory business also posted an “all-time high for quarterly revenue and operating profit,” the company said.
Going forward, the South Korean company expects “AI and server demand to continue increasing”. This is expected to lead to more opportunities for structural growth.
