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Samsung says chips to recover in 2024 after best quarterly profit this year

Economic Times

Economic Times · 1y ago

Samsung says chips to recover in 2024 after best quarterly profit this year

Samsung is optimistic about a chip recovery in 2024 after reporting its highest quarterly profit this year. The company expects strong demand for memory chips and a shortage in the industry to help boost its profits in the coming years. Despite facing challenges like supply chain disruptions and a decline in smartphone sales, Samsung's focus on memory chips and other semiconductor products has helped drive its performance.

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Samsung reports a 10-fold increase in profit as AI drives rebound in memory chip markets

Economic Times

Economic Times · 1y ago

Samsung reports a 10-fold increase in profit as AI drives rebound in memory chip markets

Samsung Electronics posted a tenfold increase in operating profit for the last quarter, driven by the growth of artificial intelligence technologies and a rebound in the computer memory chip markets. Operating profit reached 6.6 trillion won ($4.8 billion), up from 640 billion won ($465 million) the previous year. Revenue rose nearly 13% to 71.9 trillion won ($52 billion), fueled by higher memory chip prices and strong sales of the Galaxy S24 smartphones. Samsung also reported its first quarterly profit in the semiconductor business since Q4 2022, with operating profit reaching 1.91 trillion won ($1.38 billion). The company expects the memory chip market to remain robust due to increased demand for both conventional and advanced chips powering AI technologies.

Samsung flags bigger-than-expected Q4 profit drop on weak demand

Economic Times

Economic Times · 1y ago

Samsung flags bigger-than-expected Q4 profit drop on weak demand

Samsung has reported a bigger-than-expected drop in its Q4 profit due to weak demand. The company expects operating profit to decline about 34% from a year earlier, falling below market expectations. This drop in profit is primarily attributed to decreased demand for memory chips and display panels, as well as intensifying competition in the smartphone market.

Samsung profit likely biggest in six quarters on higher chip prices

Economic Times

Economic Times · 1y ago

Samsung profit likely biggest in six quarters on higher chip prices

Samsung Electronics is expected to see a significant increase in first-quarter profit, nearly nine times higher than the previous year. This surge is due to the recovery of semiconductor prices after a severe downturn. Operating profit for the company is estimated to have risen to 5.7 trillion won ($4.24 billion), representing the highest profit since Q3 2022. The chip division is predicted to report its first quarterly profit in five quarters, driven by a rebound in memory chip prices. Samsung's mobile business is also anticipated to contribute to profits with the launch of its Galaxy S24 smartphones.

Samsung reports major progress in supply deal for AI chips

Economic Times

Economic Times · 9m ago

Samsung reports major progress in supply deal for AI chips

Samsung Electronics reported progress in securing a major supply deal for AI chips, aiming to reassure investors after a slowdown in semiconductor profits. Despite a 12% decline in operating profit from the second quarter, Samsung saw strong demand for AI and server chips. However, its mobile chip business weakened due to inventory adjustments by customers, and increased competition from Chinese manufacturers. Samsung also lagged behind competitors in high-bandwidth memory chips but hopes to drive sales in the fourth quarter, potentially with a deal with Nvidia. The company plans to focus on high-bandwidth memory and high-density products to meet demand.

Israel's Wix.com posts Q3 beat, says business as usual

Economic Times

Economic Times · 1y ago

Israel's Wix.com posts Q3 beat, says business as usual

Wix.com, an Israeli company assisting small businesses in website building and operation, reported higher-than-expected quarterly net profit. The Israel-Hamas conflict did not significantly impact its business. Earnings were $1.10 per diluted share, compared to 6 cents a year earlier, with a 14% increase in quarterly revenue to $394 million. Wix outperformed analysts' expectations. Despite 5% of its global workforce being called up for reserve duty due to the war, the company managed to mitigate disruptions, maintaining normal services. Wix projected strong revenue growth for the fourth quarter and raised its 2023 revenue estimate. The company's stock rebounded in 2023 after a 51% drop the previous year.

Can Samsung get its mojo back?

Livemint

Livemint · 10m ago

Can Samsung get its mojo back?

- Samsung Electronics is known for its vertical integration, with smartphones and consumer electronics accounting for half of its revenue and a quarter of its operating profit. - The company reported a 16-fold increase in operating profit in the most recent quarter, driven by growth in its chip business due to high demand from tech giants like Microsoft and Alphabet. - However, Samsung is struggling to compete in both logic chips and memory chips, losing ground to competitors like TSMC in chip foundry business and SK Hynix in high-bandwidth memory (HBM) chips. - Chinese companies are also challenging Samsung in the display market, especially in organic light-emitting diode (OLED) screens, where BOE Technologies has gained prominence. - Samsung is facing internal challenges as well, with a recent work stoppage by thousands of employees protesting over pay and conditions. - Despite these challenges, there are some positive developments for Samsung, such as its HBM3 chips being accepted by Nvidia and plans to begin mass production of cutting-edge logic chips in 2025.

Samsung's 8-layer HBM3E chips clear Nvidia's tests for use, sources say

Economic Times

Economic Times · 1y ago

Samsung's 8-layer HBM3E chips clear Nvidia's tests for use, sources say

Samsung Electronics' HBM3E memory chips have passed Nvidia's tests and are approved for use in the company's artificial intelligence (AI) processors. This is a significant milestone for Samsung, as it has been trying to catch up with its local competitor, SK Hynix, in supplying advanced memory chips for AI applications. The approval is for the eight-layer HBM3E chips, with the supply deal expected to be signed soon and production beginning in the fourth quarter of 2024. However, Samsung's 12-layer version of HBM3E has not yet passed Nvidia's tests.

Don’t count Samsung out in the AI memory stakes

Livemint

Livemint · 1y ago

Don’t count Samsung out in the AI memory stakes

Samsung Electronics, a South Korean technology giant, has been falling behind in the artificial intelligence (AI) race. However, recent signs suggest that it might be narrowing the technological gap with rivals SK Hynix and Micron in high-performance AI memory chips. While SK Hynix has taken an early lead in HBM (high-bandwidth memory), Samsung is catching up and expects to mass-produce next-generation HBM chips in the first half of this year. The growing demand for HBM chips is expected to benefit Samsung and the overall memory market as AI applications require more powerful devices with higher memory capacity.

Samsung expects steep drop in operating profits on US chip woes - The Economic Times

Economic Times

Economic Times · 1m ago

Samsung expects steep drop in operating profits on US chip woes - The Economic Times

Samsung Electronics expects its second quarter operating profits to fall by over 50%, citing U.S. export controls on advanced AI chips to China. The company's semiconductor division faced reduced profits due to inventory adjustments and U.S. restrictions. However, Samsung anticipates improved performance in the latter half of the year as demand recovers. The sharp profit drop is largely attributed to a weak foundry business, though memory chip demand is expected to rise.

Tesla taps Samsung for AI6 Chips in $16.5 billion deal, Elon Musk says - The Economic Times

Economic Times

Economic Times · 11d ago

Tesla taps Samsung for AI6 Chips in $16.5 billion deal, Elon Musk says - The Economic Times

Tesla has partnered with Samsung Electronics in a substantial $16.5 billion, eight-year deal to manufacture its next-generation AI6 chips at Samsung's Texas facility. CEO Elon Musk emphasized the strategic importance, with Tesla aiding in optimizing production efficiency. This deal is poised to enhance Samsung’s standing in the competitive AI chip market, where it trails behind competitors. Samsung's Texas plant's proximity to Musk's residence is seen as advantageous for accelerating progress.

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