Loading...
Market
Performance ranking of Samsung's AI technology in the market by end of 2024
5
Resolution / Starting Odds
Top performer • 25%
Competitive • 25%
Average • 25%
Below average • 25%
Technology market analysis and consumer reports
Story
Samsung Q1 Profits Soar Tenfold, Driven by AI and Chip Demand Surge
Apr 30, 2024, 06:50 AM
Samsung Electronics reported a significant increase in its financial performance for the first quarter, with a net profit of 6.62 trillion won, surpassing estimates of 5.63 trillion won. The company's operating profit soared nearly tenfold, up 932.8% year-over-year to approximately $4.8 billion, driven by a rebound in memory chip prices and strong demand for AI technologies. Revenue also increased by 12.81% year-over-year to about $52.3 billion. The surge in profits and revenue is attributed to the proliferation of AI technologies, which have boosted the markets for computer memory chips. Samsung expects this demand to continue in the second half of the year, further driving sales of memory chips and tech devices.
View original story
Similar markets
Top Market Leader • 33%
Top 3 • 34%
Outside Top 3 • 33%
Increase • 33%
Maintain • 34%
Decrease • 33%
Top 5 • 25%
Top 10 • 25%
Top 20 • 25%
Outside Top 20 • 25%
Yes • 50%
No • 50%
Leader • 25%
Competitive • 25%
Follower • 25%
Lagger • 25%
Top performance • 33%
Competitive but not top • 33%
Underperforming • 34%
Remains steady • 33%
Significantly improves • 33%
Declines due to competition • 33%
Highly successful • 33%
Moderately successful • 33%
Not successful • 34%
Apple leads the market • 33%
Apple is in second place • 33%
Apple is third or lower • 33%
OpenAI • 25%
Google • 25%
Microsoft • 25%
Other • 25%