Samsung Electronics reported a fivefold jump in Q1 net profit to 47.22 trillion won, driven by strong demand for AI-focused memory chips and rising prices. Operating profit and sales also surged sharply. The firm expects continued growth amid global AI investments but faces a potential worker strike that could disrupt production.
Seoul: Samsung Electronics said on Thursday that its first-quarter net profit surged more than fivefold from a year earlier, driven by robust demand for high-end memory chips used in artificial intelligence (AI) applications.
Net profit for the three months ended March jumped to 47.22 trillion won (US$31.8 billion) from 8.22 trillion won a year earlier, the company said in a press release.
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Operating profit jumped more than eightfold to 57.23 trillion won from 6.68 trillion won over the same period, while sales climbed 69.2 percent to 133.87 trillion won from 79.14 trillion won, reports Yonhap news agency.
