Get the latest tech news
Samsung operating profit boom after chip prices rebound
Samsung Electronics is expecting to record a stunning 931% increase in first-quarter operating profit thanks to a firm rebound in chip prices.
Samsung is the world’s biggest manufacturer of various random-access memory (RAM) chips, which are commonly found in consumer devices such as smartphones and computers. Company chiefs at the South Korean multinational will be delighted with the turnaround after its operating profit nosedived a year ago, as the downcycle of the semiconductor market began in earnest. Daiwa analyst and executive director SK Kim stated in a March 27 report, “We forecast Samsung Electronics will post solid earnings for Q1 24 driven by memory price hikes and robust S24 sales, beating market estimates.”
Or read this on ReadWrite
