Samsung's Q1 Profits Soar 800% to $37.9 Billion on AI Chip Demand Surge

Deep News04-07

Samsung Electronics announced on Tuesday that its first-quarter operating profit reached a record high compared to the same period last year, surpassing market expectations. This performance was driven by a surge in demand for artificial intelligence infrastructure, which has created supply constraints and pushed up chip prices.

The world's largest memory chip manufacturer projected its January-to-March operating profit would hit 57.2 trillion won (approximately $37.92 billion). This figure significantly exceeded the Refinitiv SmartEstimate of 40.6 trillion won and represents an increase of more than eight times compared to the 6.69 trillion won profit recorded in the first quarter of the previous year.

This preliminary result is nearly three times the previous record quarterly operating profit of 20 trillion won, which was set by Samsung in the last quarter of the prior year.

The company also stated that its revenue for the January-to-March period is expected to grow by 68%, reaching 133 trillion won.

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