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## Samsung Electronics Reports 10-Fold Increase in Operating Profit

SEOUL, South Korea (AP) — Samsung Electronics on Tuesday reported a significant 10-fold increase in operating profit for the last quarter, showcasing a strong performance driven by the expansion of artificial intelligence technologies in the market for computer memory chips.

The South Korean semiconductor and smartphone giant disclosed that its operating profit for the Jan-March quarter surged to 6.6 trillion won ($4.8 billion), a substantial jump from the 640 billion won ($465 million) it earned during the same period last year. This remarkable growth reflects the positive impact of AI advancements on the company’s financial outlook.

## Revenue Growth and Market Outlook

Revenue for Samsung also saw a commendable rise by nearly 13% to 71.9 trillion won ($52 billion), fueled by the surge in memory chip prices and robust sales of its flagship Galaxy S24 smartphones.

The company’s semiconductor business contributed significantly to its operating profit, earning 1.91 trillion won ($1.38 billion) and marking the division’s first quarterly profit since the fourth quarter of 2022. This positive development comes as the chip market recovers from the cyclical slump exacerbated by the COVID-19 pandemic and global trade tensions.

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## Outlook and Growth Opportunities

Samsung foresees a continued strong performance in the memory chip market in the upcoming months, driven by the expansion of generative AI technologies. These advancements are fueling the demand for both traditional chips used in servers and advanced chips tailored for AI processing, including high-bandwidth memory.

Looking ahead to the second half of 2024, Samsung anticipates positive business conditions with sustained demand, particularly around generative AI. Despite potential volatility related to macroeconomic trends and geopolitical issues, the company remains optimistic about its prospects in the evolving tech landscape.

## AI-Powered Features in Galaxy S24

In line with its AI-driven strategy, Samsung is focusing on enhancing the sales of its flagship device, Galaxy S24, by incorporating innovative features enabled by artificial intelligence. These features include live translation during phone calls in 13 languages and 17 dialects, showcasing the integration of AI capabilities into everyday smartphone functionalities.

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