Samsung's Q3 Operating Profit Surpasses Expectations Despite Declining Chip Demand

  • last year
Samsung reported a better-than-expected third quarter operating profit of 2.43 trillion Korean won ($1.8 billion) even as profit fell 77.6% year-on-year due to declining memory chip demand. Samsung's Q3 profit jumped 262.6% from Q2, indicating that the memory chip glut may be bottoming out. Samsung expects memory chip demand to gradually improve in Q4, and it plans to expand sales of advanced memory chips like HBM3 used in Nvidia's AI processors, aiming to capture more AI-related demand opportunities in 2024.
Transcript
00:00 Benzinga and here's what's on the block. Samsung reported better than expected third
00:04 quarter operating profit of 2.43 trillion Korean won. Even as profit fell 77.6% year-on-year due
00:13 to declining memory chip demand. Samsung's quarter 3 profit jumped 262.6% from quarter 2,
00:21 indicating that the memory chip blood may be bottoming out. Samsung expects memory chip demand
00:26 to gradually improve in quarter 4 and it plans to expand sales of advanced memory chips like HBM3
00:33 used in NVIDIA's AI processors, aiming to capture more AI-related demand opportunities in 2024.
00:39 For all things money visit Benzinga.com

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