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Samsung Reports Highest Quarterly Profit as Losses from Chip Business Narrow

Introduction

SEOUL, South Korea — Samsung Electronics has reported its highest quarterly profit for the year, with losses from its computer chip business narrowing amidst a slow recovery in global demand.

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Details of Samsung’s Quarterly Profit

Samsung Electronics reported an operating profit of 2.43 trillion won ($1.8 billion) for the three months ending in September. Although this figure represents a 77.6% decline compared to the same period last year, it marks the highest quarterly profit for the year. The company’s revenue for the last quarter was 67.4 trillion won ($50 billion), a 12.2% drop from the previous year.

The losses from Samsung’s memory chip business decreased from 4.36 trillion won ($3.2 billion) in the second quarter to 3.75 trillion won ($2.78 billion) for the July-September period. This improvement in performance can be attributed to the rising demand for high-end chips used in artificial intelligence technologies, as well as resumed orders from PC and mobile device manufacturers.

Future Outlook

Samsung expects its business to continue improving in the coming months. The replacement cycles of personal computers and smartphones, along with the increasing demand for DRAM chips due to the expansion of artificial intelligence-based devices and services, are projected to contribute to this positive trend.

The company acknowledges that geopolitical issues and spending trends related to macroeconomic conditions, as well as generative AI, can impact the server market. Therefore, ongoing monitoring of these factors is crucial.

In conclusion, Samsung’s latest quarterly profit report indicates a positive trajectory for the company following a challenging period. The utilization of AI legalese decoder can assist both legal professionals and the general public in navigating legal documents effectively and efficiently, promoting a better understanding of complex legal issues.

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