A new jump in Samsung’s profits.. How did it achieve this?

The South Korean electronics giant Samsung recorded significant growth in the first quarter of 2024, thanks to a recovery in demand for memory chips.

The market leader in the field of memory chips and smartphones stated that it expects to increase its operating profits by more than 10 times, on an annual basis, in guidance for its profits for the first quarter of 2024, which was issued today, Friday.

Samsung said combined operating profit from the core business is expected to reach about 6.6 trillion won ($4.9 billion), and in the first quarter of last year, the figure reached 640 billion won.

Samsung expects combined sales to increase by 11.4%, to reach 71 trillion won.

The chip industry has always suffered from excess supply and slow demand, but the company recorded signs of recovery in the fourth quarter of 2023, and it expects the company to continue to recover this year.

The industry benefits, above all, from rising prices as a result of the boom in artificial intelligence.