Samsung Electronics' Device Solutions unit on Tuesday reported a 68 percent year-over-year increase in sales for the first quarter of 2024, thanks in large part to its memory sales — a result that confirms what many had predicted: an AI and server boom has lifted the chip shop off the lows levels in 2023.
Samsung's AI Boom | 15-fold profit increase | Strong chip demand forecast | News9 Live
The increase in sales leads to Device Solutions (DS) revenue of ₩23.14 trillion (US$16.77 billion). A 96 percent year-over-year increase in memory sales accounted for ₩17.49 trillion ($12.68 billion) of the total.
Operating profit for the DS unit rose 6.5 percent to ₩1.91 trillion ($1.39 billion).
Overall, Samsung Electronics' net profit was ₩6.62 trillion ($4.8 billion) – more than four times the ₩1.4 trillion ($1.02 billion) reported for the same quarter in 2023.
