Samsung profit surges after chip arm’s recovery


Fresh catalyst: People walk past a Samsung booth at a trade show in Las Vegas. Beyond AI, demand for server-related products also contribute to the company’s results. — Reuters

Seoul: Samsung Electronics Co has reported its fastest pace of net income growth since 2010 after the artificial intelligence (AI) boom lifted earnings at its semiconductor division.

The world’s largest maker of memory and smartphones posted a six-fold surge in net income to 9.64 trillion won or about US$6.96bil in the June quarter, versus the average analysts’ projection for 7.97 trillion won.

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