This post is also available in:
简体中文 (Chinese)
Samsung Electronics announced an operating profit of approximately 6.6 trillion won (approximately AU$7.4 billion) in the first quarter of 2024, exceeding analysts’ forecast of 5.7 trillion won (approximately AU$6.41 billion). This marks the first time it has posted a profit after consecutive quarterly declines since the third quarter of 2022.
The world’s largest chipmaker’s revenue this quarter reached approximately 71 trillion won (approximately A$79.92 billion). Weak demand for smartphones and TVs led to a decline last year, but Samsung turned it around this quarter by cutting chip production and focusing on high-quality products, especially the launch of the Galaxy S24 series.
South Korea’s chip exports in March increased by 35.7% year-on-year to approximately A$17.81 billion, the highest value since March 2022. Full earnings data will be released on April 30.
(Source: ChannelNews Image source: Freepik)
