Samsung Q2 shows fastest growth

By Agence France-Presse

Aug 01, 2024 12:14 am

SEOUL — Samsung Electronics said on Wednesday it registered its fastest growth since 2010, with operating profits soaring for the second quarter (Q2), as chip prices bounce back and demand for generative AI (artificial intelligence) continues to grow.

The world's largest memory chipmaker posted an 'operating profit of KRW (South Korean won) 10.44 trillion ($7.5 billion) as favorable memory market conditions drove higher average sales price' for the April to June period, it said in a statement.

RISING People walk past a Samsung logo displayed at the company’s Seocho building in Seoul on July 31, 2024. Samsung Electronics said on July 31 that its operating profits soared some fifteen-fold to $7.5 billion for the second quarter. AFP PHOTO

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