Samsung Q2 profit to increase 13-fold

SEOUL — Samsung Electronics is expected to post a 13-fold increase in second-quarter profit from a year earlier as demand for artificial intelligence technology fuels a rebound in memory chip prices.Its operating profit is likely rose to 8.8 trillion won in the quarter ended June 30, according to the average of an LSEG SmartEstimate from 27 analysts, weighted toward those who are more consistently accurate.That amount would be Samsung's highest profit since the third quarter of 2022.

Explosive demand for high-end DRAM chips such as high bandwidth memory chips used in AI chipsets, as well as chips used in data center servers and gadgets that run AI services are underpinning a broad recovery in the chip industry, analysts said.

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