Samsung surge 930%
Samsung Electronics said on Tuesday that its operating profit surged more than 930% in the first quarter of 2024, driven by soaring demand for its servers, memory chips and storage used in AI applications.
The company, which struggled in 2023 as the macroeconomic slowdown hurt demand for its products, said its memory chip business returned to profitability, and prices continued to rise thanks to solid demand for DRAM and NAND chips, high-density SSDs and servers.