Samsung profits jump 1,800% as AI chip sales soar
The company forecast that it made 89.4tn won (£43.6bn; $58.4bn) between the start of April and the end of June, marking its third record quarterly operating profits in a row...
✨ Key Highlights
Samsung Electronics anticipates a significant surge in profits, an increase of approximately 1,800%, driven by robust global demand for artificial intelligence (AI) memory chips.
- The company forecasts operating profits of 89.4tn won (£43.6bn; $58.4bn) for the April-June quarter.
- Samsung, a major South Korean technology firm, is a leading global semiconductor manufacturer.
- This projection follows two previous record quarterly operating profits and highlights the ongoing impact of the AI boom on the semiconductor industry.
Continue Reading
Read the complete article from Capital Business
Part of the Day's Coverage
Samsung profits jump 1,800% as AI chip sales soar - July 2026
Samsung Electronics anticipates a significant surge in profits, an increase of approximately 1,800%, driven by robust global demand for artificial intelligence (AI) memory chips. At the same time, Microsoft announced it will eliminate approximately 4,800 jobs globally, representing about 2.1 percent of its total workforce, as part of a company-wide restructuring. Meanwhile, shareholders of Old Mutual Holdings PLC have approved a significant balance sheet restructuring worth Sh4.67 billion to clear accumulated losses and pave the way for dividend payments to resume.
