Samsung Forecasts 782% Surge in Q3 Profit as AI Chip Demand Soars
Summary
Samsung Electronics forecasts a 782.5 percent jump in third-quarter operating profit to 107.4 trillion won, driven by soaring demand for AI-related memory chips and higher chip prices. The company also plans to buy back up to $80 billion in shares as it expands production of next-generation HBM4 chips.
Key Points
- Samsung Electronics expects third-quarter operating profit to surge 782.5 percent year-on-year to 107.4 trillion won.
- Revenue is projected to rise 127 percent to 195 trillion won, both figures marking record highs.
- Strong demand from the artificial intelligence sector is boosting memory chip sales, especially high-bandwidth memory used in data centres.
- Samsung plans to buy back up to $80 billion in shares and expand production of next-generation HBM4 chips.
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