{"id":271464,"date":"2024-04-05T07:47:10","date_gmt":"2024-04-05T14:47:10","guid":{"rendered":"https:\/\/readwrite.com\/?p=271464"},"modified":"2024-04-05T07:47:10","modified_gmt":"2024-04-05T14:47:10","slug":"samsung-operating-profit-boom-after-chip-prices-rebound","status":"publish","type":"post","link":"https:\/\/readwrite.com\/samsung-operating-profit-boom-after-chip-prices-rebound\/","title":{"rendered":"Samsung operating profit boom after chip prices rebound"},"content":{"rendered":"<p>Samsung Electronics is expecting to record a whopping 931% increase in first-quarter operating profit thanks to a firm rebound in chip prices.<\/p>\n<p>On Friday (5 Apr), the company released a preliminary statement detailing an almost tenfold increase in operating profit from the same period, last year. For January to March 2024, profits spiked to 6.6 trillion Korean won ($4.89 billion), a massive increase compared to 0.64 trillion won for Q1 in 2023.<\/p>\n<p>Samsung is the world\u2019s biggest manufacturer of various random-access memory (RAM) chips, which are commonly found in consumer devices such as smartphones and computers.<\/p>\n<p>Company chiefs at the South Korean multinational will be delighted with the turnaround after its operating profit nosedived a year ago, as the downcycle of the semiconductor market began in earnest.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Samsung Electronics Announces Earnings Guidance for First Quarter 2024<a href=\"https:\/\/t.co\/7HVnl6ld1I\">https:\/\/t.co\/7HVnl6ld1I<\/a><\/p>\n<p>&mdash; Samsung Electronics (@Samsung) <a href=\"https:\/\/twitter.com\/Samsung\/status\/1776045861052756045?ref_src=twsrc%5Etfw\">April 5, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Positive outlook ahead for Samsung<\/h2>\n<p>The positive update comes as the <a href=\"https:\/\/readwrite.com\/samsung-poised-to-win-over-6-billion-for-expanded-us-investment\/\">United States is set to award Samsung over $6 billion<\/a> to expand the company\u2019s presence in the country, with funding resulting from the 2022 Chips and Science Act. It already enjoys a sprawling operation in Austin, but a <a href=\"https:\/\/semiconductor.samsung.com\/us\/sas\/local-news\/samsung-electronics-announces-new-advanced-semiconductor-fab-site-in-taylor-texas\/\">new strategic $17 billion plant<\/a> is set to emerge in Taylor, also in the Lone Star State.<\/p>\n<p>Samsung\u2019s major rivals are Intel and Taiwan Semiconductor Manufacturing Co (TSMC), the world\u2019s largest contract chipmaker. Both firms are also to benefit from US Government investment in a bid to make the bulk of their chips in the states.<\/p>\n<p>That will not diminish the intense competition between the companies, after Intel emerged last month as the <a href=\"https:\/\/readwrite.com\/samsung-replaced-as-worlds-leading-semiconductor-firm\/\">biggest earner from semiconductor manufacturing<\/a>, ousting Samsung from the top spot.<\/p>\n<p>Meanwhile, Japanese investment bank Daiwa Securities has forecast an encouraging outlook for Samsung, backing its turnaround to continue further into 2024.<\/p>\n<p>Daiwa analyst and executive director SK Kim stated in a March 27 report, &#8220;We forecast Samsung Electronics will post solid earnings for Q1 24 driven by memory price hikes and robust S24 sales, beating market estimates.&#8221;<\/p>\n<p>&#8220;We expect the strong AI-driven memory upturn cycle will drive earnings in 2024-25E,&#8221; added Kim.<\/p>\n<p>Samsung Electronics is expected to provide a full breakdown of detailed earnings later this month.<\/p>\n<p><em>Image credit: <a href=\"https:\/\/www.pexels.com\/photo\/close-up-photo-of-black-samsung-phone-1447254\/\">Omar Markhieh\/Pexels<\/a><\/em><\/p>\n<div class=\"BoxInline-container \"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Samsung Electronics is expecting to record a whopping 931% increase in first-quarter operating profit thanks to a firm rebound in&hellip; <a class=\"more-link\" href=\"https:\/\/readwrite.com\/samsung-operating-profit-boom-after-chip-prices-rebound\/\">Continue reading <span class=\"screen-reader-text\">Samsung operating profit boom after chip prices rebound<\/span><\/a><\/p>\n","protected":false},"author":26531,"featured_media":271537,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[59298,7088,9912],"tags":[58855,7],"table_tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.0 (Yoast SEO v22.0) - 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