Samsung projects record Q1 profit as AI chip prices rise
Samsung projects a record 57.2 trillion won profit for the first quarter. Rising AI demand and chip price hikes drove the eightfold year-on-year increase.
SAMSUNG ELECTRONICS CO LTD projected a record-breaking first-quarter operating profit on Tuesday, surging more than eightfold compared to the previous year. The company, headquartered in South Korea, has seen its financial performance bolstered by a massive wave of demand for artificial intelligence infrastructure, which has created supply bottlenecks and pushed semiconductor prices upward.
The world's largest memory chipmaker estimated its operating profit for the January to March period at 57.2 trillion won ($37.92 billion). This figure significantly outpaced the LSEG SmartEstimate of 40.6 trillion won and represents a dramatic rise from the 6.69 trillion won recorded during the same period last year. These preliminary results nearly triple the previous record quarterly profit of 20 trillion won achieved in the final quarter of last year.
