Samsung Electronics' operating profit jumps 933% in first quarter, beats expectations

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.

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