Samsung Reports Record Q2 Profits Fueled by AI-Driven Memory Demand

The tech giant's operating profit surged 1,458% year-on-year, driven by strong sales of memory chips and OLED panels.

Samsung's Q2 2024 operating profit reached ₩10.44 trillion ($7.5 billion), a 15-fold increase from the previous year.
Revenue rose 23% to ₩74.07 trillion ($53.8 billion), supported by high demand for AI-related memory products.
The company's semiconductor division saw significant growth, particularly in high-bandwidth memory (HBM) and DDR5 sales.
Samsung confirmed the launch of its Exynos 2500 chip for flagship devices, utilizing a 3nm process.
Despite a decline in smartphone sales, Samsung maintained its position as the world's largest smartphone vendor.