. On Tuesday , the company reported a spectacular 932.8% jump in operating profit for the first quarter year-over-year. While you might know of Samsung because of its Galaxy handsets, the company is the world's largest maker of memory chips and thanks to AI, Samsung's memory chip business is booming.
Samsung Foundry reduced its losses during Q1 and its order backlog reached a record during Q1. It hopes to complete the development of its 2nm process node this year while mass-producing chips using its second-generation 3nm node later this year. Samsung's semiconductor unit will join everyone on this planet and recognize AI as a major growth opportunity this year.
In a statement made on Tuesday, Samsung said,"The company posted KRW 71.92 trillion in consolidated revenue on the back of strong sales of flagshipsmartphones and higher prices for memory semiconductors. Operating profit increased to KRW 6.61 trillion as the Memory Business returned to profit by addressing demand for high value-added products."