In the second quarter of this year, this company reported that the Samsung’s operating profit increased by a remarkable 15 times. This unprecedented growth is mainly due to the high demand for memory chips and the expansion of artificial intelligence technologies.
According to Iran digital economy annotation, Samsung Corporation reported that the company’s operating profit increased significantly and increased 15 times in the second quarter of this year, mainly due to high demand for memory chips following the expansion of artificial intelligence technologies.
Samsung’s operating profit for the period April to June
The Korean company said in a statement on Wednesday that its operating profit for the April-June period reached 10.4 trillion won ($7.5 billion), up from 670 billion won in the same period last year.
Samsung said its consolidated revenues rose about 23 percent to 74 trillion won ($53 billion). The company added that favorable market conditions have increased sales prices and strong sales of OLED panels (Organic Light Emitting Diodes) have also contributed to this sales growth.
“The overall memory market has improved due to strong demand for HBM (high-bandwidth memory) as well as conventional DRAM and server SSDs,” Samsung said in a statement.
“This increase in demand is the result of continued AI investments by cloud service providers, as well as growing demand for AI from businesses for their on-premises servers,” Samsung added in the statement.
Samsung predicts that AI servers will gain more market share in the second half of this year as major cloud service providers and enterprises continue to invest in AI.
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