Information Technology Samsung significantly increases profit in the second quarter

The business figures of the South Korean electronics group Samsung have significantly exceeded economists' expectations. The industry is benefiting above all from the boom in artificial intelligence.

Keystone-SDA

31.07.2024, 11:27

SDA

Thanks to the strong semiconductor business, Samsung recorded significant growth in the second quarter of 2024. The electronics group's operating profit rose to 10.44 trillion won (equivalent to around 7 billion euros), an increase of more than fifteen times year-on-year. In terms of sales, Samsung recorded an increase of around 23 percent to 74.07 trillion won (around 50 billion euros).

Samsung's business figures have clearly exceeded the expectations of most economists. The industry is benefiting above all from the boom in artificial intelligence.

Samsung is the market leader in memory chips and televisions. According to market researchers' calculations, the South Koreans also reclaimed the top spot in the smartphone market from Apple in the first quarter.