Samsung Electronics has announced an expected nine-fold surge in its quarterly profits compared to the same period last year, driven by the increasing demand for memory chips utilized in artificial intelligence (AI) data centers. The tech giant estimates that its operating profit for the three months ending in September will reach 107.4 trillion won (approximately £61 billion or $80 billion), marking its fourth consecutive quarter of record earnings.
Key Highlights
- Samsung is one of the world's largest memory chip manufacturers, alongside SK Hynix and Micron in the US.
- The company produces chips that are essential for AI firms, including major players like Nvidia.
- Samsung's latest folding devices, launched in August, are also expected to contribute positively to its earnings.
