According to Samsung Electronics, the company anticipates a more than tenfold increase in profits for the first three months of 2024 compared to the same period the previous year.
It happens at a time when demand for items connected to artificial intelligence (AI) is surging, and chip prices are rising after a post-pandemic downturn.
Samsung, a South Korean company, is the biggest memory chip, smartphone, and television manufacturer in the world On April 30, the corporation is expected to produce a comprehensive financial report.
Typically, Samsung’s semiconductor business generates the most revenue for the company.
This year’s robust demand for semiconductors is also anticipated, thanks in part to the development of AI technology.
The 3 April earthquake in Taiwan may also restrict the supply of chips worldwide, allowing Samsung to increase prices even further.
Major chipmakers such as TSMC, a supplier to Nvidia and Apple, are based in Taiwan. Samsung is also expected to get a boost from sales of its new flagship Galaxy S24
Although TSMC has stated that the earthquake did not significantly affect its output, there was some operational disturbance.
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