Samsung Operating Profit Hits Record 107 Trillion Won on AI Memory Boom

Samsung Electronics has reported an operating profit of 107.4 trillion won, approximately $80.1 billion, for the third quarter. This marks a record high, with the company's profit more than eight times the level from the same period last year, according to The Business Times - Companies & Markets. The surge in profit is attributed to high demand for high-bandwidth memory chips, driven by the artificial intelligence boom.

The company's revenue for the quarter was 195 trillion won, which was lower than expected. Despite this, analysts describe the results as "solid numbers," with expectations of further growth, particularly with the increasing demand for high-bandwidth memory. According to BusinessKorea, this operating profit sets a new record for the largest quarterly operating profit in Korean corporate history.

The record profit reflects the significant impact of the AI boom on Samsung's business, with data centre developers racing to secure memory chips. As noted by Neil Shah, vice-president of research at Counterpoint Research, the full effect of this trend has yet to be realised, suggesting potential for further growth.

Brief written by urgent.news from BusinessKorea, The Business Times - Companies & Markets, CNBC World — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.