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Samsung Electronics expects first-quarter profits to increase nearly ninefold to 750 billion won, the highest in five quarters.
A rebound in semiconductor prices boosted earnings, with DRAM chip prices rising by about 20% and NAND flash memory chip prices rising by 23-28%. This has driven profit growth for memory chip makers, especially Samsung.
Although Samsung’s mobile business profits have declined slightly, sales of the new Galaxy S24 smartphone are expected to increase by 8%, and the average selling price has also increased by 30%. Preliminary earnings results are expected this week.
(Source: channelnews Image source: unsplash)
