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Samsung expects the first quarter operating profit to increase by more than 7.5 times
Samsung Electronics of Korea announced that its first-quarter operating profit, based on an initial estimate, hit a record high, exceeding expectations. Supply bottlenecks were caused by a surge in demand for artificial intelligence infrastructure, pushing up chip prices.
Samsung Electronics expects operating profit for January to March to be 57.2 trillion Korean won, up 7.55 times year over year.
The figure is nearly three times Samsung’s prior quarterly operating profit record. The earlier record was 20 trillion Korean won, set in the October-to-December quarter last year.
Samsung also said it estimates revenue for January to March to grow 68%, reaching 133 trillion Korean won.