Its operating profit rose to 10.4 trillion won ($7.54 billion) in the quarter ended June 30
SEOUL - Samsung Electronics estimated on Friday a more than 15-fold rise in its second-quarter operating profit, as rebounding semiconductor prices driven by the artificial intelligence boom lifted earnings from a low base a year ago.
In addition to higher chip prices, the better-than-expected profit likely reflected Samsung reversing its previous inventory writedowns on its books, as the value of its chip inventory has rebounded in accounting terms, analysts said. Explosive demand for high-end DRAM chips such as high bandwidth memory chips used in AI chipsets, as well as chips used in data centre servers and gadgets that run AI services have helped buoy chip prices, analysts said.
"At the earnings call at the end of the month, we will be interested in Samsung's outlook on legacy chips, which will be a sign for whether this chip industry recovery can last into next year," said Ko Yeongmin, an analyst at Daol Investment & Securities.
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