Samsung Electronics profit rebounded sharply in the first quarter of 2024, reflecting a turnaround in the company’s pivotal semiconductor division.
Samsung Electronics Co.’s profit rebounded sharply in the first quarter of 2024, reflecting a turnaround in the company’s pivotal semiconductor division and robust sales of Galaxy S24 smartphones.
Revenue rose to about 71 trillion won during the quarter, compared with projections for 71.8 trillion won. Shares slipped about 1% in early Seoul trading. In March, South Korea’s chip exports increased 35.7% from a year earlier to $11.7 billion, the largest monthly sales total since March 2022.According to Akshara Bassi, a senior analyst at Counterpoint Research, major DRAM producers increased prices by 7% to 10% on average in the first quarter as inventory levels normalised for products like smartphones and PCs.
HBM is a vital part of Samsung’s effort to be the world’s leading chipmaker, as the one part of the memory market where Samsung doesn’t enjoy a clear lead over its competition.
Chip Manufacturers Chip Manufacturing Kyung Kye-Hyun Memory Chip Nvidia Corp. Samsung Semiconductor Business
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