South Korea’s Samsung Electronics announced that its operating profit for the April-June period this year increased by about 16 times compared to the same period last year, due in part to growing demand for semiconductors for AI.

Samsung Electronics announced on the 31st that its consolidated financial results for the period from April to June of this year showed that sales increased 23% compared to the same period last year, to approximately 8.18 trillion yen. In addition, operating profit, which represents the profit from the company’s main business, increased 16-fold, to approximately 1.15 trillion yen.

The reason behind this strong performance is the increased demand for memory semiconductors due to the expansion of the artificial intelligence (AI) market.

South Korean media has expressed the view that “prices of memory semiconductors will continue to rise in the second half of this year, and the trend of improving profits will continue.”

Source: Japanese