Samsung Electronics on Tuesday said operating profit for the first quarter jumped as memory chip prices rebounded on the back of AI optimism.
Samsung Electronics, the world's largest memory chip maker, said operating profit jumped 932.8% in the first quarter ending March.
Samsung Electronics Co. Galaxy S24 smartphones during a media preview event in Seoul, South Korea, on Monday, Jan. 15, 2024. Samsung, the world's most prolific smartphone maker, is leaning into artificial intelligence as the key to unlocking greater sales this year. Photographer: SeongJoon Cho/Bloomberg via Getty ImagesSamsung Electronics on Tuesday said operating profit for the first quarter jumped 932.8% as memory chip prices rebounded on the back of AI optimism.
Samsung is the world's largest manufacturer of dynamic random-access memory chips , which are commonly found in a wide range of consumer devices including smartphones and computers. As AI models become more complex and datasets become larger, these models need memory chips with higher capacities and faster speeds to cater to these workloads.
To meet AI demand, Samsung said it started mass producing HBM3E 8H and V9 NAND in April. It plans to mass produce HBM3E 12H products and a 128GB product based on 1b nanometer 32GB DDR5 within the second quarter.
Earnings Technology Breaking News: Technology Apple Inc Taiwan Semiconductor Manufacturing Co Ltd Micron Technology Inc Business News
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Samsung Electronics' operating profit jumps 932.8% in first quarter, beats expectationsSamsung Electronics on Tuesday said operating profit for the first quarter jumped as memory chip prices rebounded on the back of AI optimism.
Read more »
Samsung’s having a huge sale on some of its best 8K TVs — up to $3,000 offDifferent models of the Samsung QN800C QLED 8K TV and Samsung QN900C QLED 8K TV are available from Samsung with lowered prices, for discounts of up to $3,000.
Read more »
Kirsten Dunst Doesn’t Allow Her Kids to Have Electronics at HomeKirsten Dunst says her two sons with husband Jesse Plemons are kept off screens while at home
Read more »
Neuqua Valley alum with penchant for electronics helps create Navy ‘robotics specialist’ ratingMaster Chief Christopher Rambert, a graduate of Neuqua Valley High School in Naperville, is the U.S. Navy’s first Robotics Warfare Specialist.
Read more »
This consumer electronics retailer gets to our buy level so we're adding more sharesDuring our Monthly Meeting last week, we laid out the case as to why we think 2024 is the year for this stock.
Read more »
Best Eco-Friendly Electronics: Sustainable Tech Gadgets to Buy for Earth Day (and Beyond)From premium headphones to laptops and cameras to 4K TVs, instead of buying your brand new tech, consider getting refurbished tech from Walmart Restored.All products are tested to be working like-new, inspected and cleaned to have a renewed appearance, while you can also have peace of mind with one-year warranties and 90-day return policies.
Read more »