Samsung flags US$80 billion profit on AI boom, highest quarterly for any tech company
SEOUL: Samsung Electronics on Thursday projected its quarterly profit would top 100 trillion won, a world first for a technology company, estimating a nearly nine-fold jump in third-quarter earnings as booming demand for AI chips drove strong memory sales.
SEOUL: Samsung Electronics projected its quarterly profit to surpass 100 trillion won, a world first for a technology company, as AI boom drove record earnings. The tech giant estimated a nearly nine-fold increase in third-quarter earnings, with operating profit reaching 107.4 trillion won (US$80.17 billion) for the July-September period.
This marked Samsung's fourth consecutive quarter of record profit, fueled by the memory chip shortage caused by AI infrastructure investment outpacing supply growth. Analysts anticipate the imbalance will persist until 2028, despite rising costs, Chinese competition, and potential US semiconductor tariffs.
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