Samsung Highlights Stronger-than-Expected Profit Growth Due to AI Surge Boosting Chip Prices

Samsung Electronics (005930.KS) reported a significant increase in second-quarter operating profit, surging more than 15-fold to 10.4 trillion won ($7.54 billion). The rise was driven by higher semiconductor prices fueled by AI demand, marking its most profitable quarter since Q3 2022. Analysts attribute the better-than-expected results to Samsung reversing inventory writedowns amid rebounding chip values. Second-quarter revenue is estimated at 74 trillion won, up 23% year-over-year. Detailed earnings are scheduled for release on July 31.