"On October 30, Samsung Electronics reported a 32.5% increase in operating profit for the third quarter, driven by rebounding demand for its computer memory chips, which the company expects will continue to grow on the back of artificial intelligence. The South Korean technology giant set a new high in quarterly revenue, which rose nearly 9% to 86 trillion won ($60.4 billion) for the July-September period, fueled by increased sales of semiconductor products and mobile phones."
""The semiconductor market is expected to remain strong, driven by ongoing AI investment momentum," the company said in a statement. The company said an advanced version of its high-bandwidth memory chips, the HBM3E, is "currently in mass production and being sold to all relevant customers," while samples of its next-generation product, the HBM4, are being shipped to key clients."
Samsung reported a 32.5% increase in operating profit for the third quarter, reaching 12.2 trillion won, while revenue rose nearly 9% to 86 trillion won ($60.4 billion). The performance was driven by stronger sales of semiconductor products and mobile phones, with the semiconductor division posting 7 trillion won in operating profit. High-bandwidth memory chips showed particularly strong demand due to AI applications. Samsung expects AI-driven demand to expand market opportunities and has moved HBM3E into mass production while shipping HBM4 samples to key clients. SK Hynix also recorded record profits attributed to AI-related growth.
Read at Fast Company
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