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00:00The demand for AI products, which in turn relies heavily on memory chips, has increased, and when talking about memory chips, it must be pointed out to Samsung, because it is the largest manufacturer of memory chips.
00:15Samsung was able to jump its profits by more than 900% in the first quarter of 2024, exceeding profits of 6.6 trillion won in the first quarter of 2024.
00:30This was supported by the transformation of the memory business sector to profitability in the first quarter of 2024 by increasing demand for AI products that rely on these chips.
00:43The company was also able to increase its profits by 13% to exceed profits of 2.71 trillion won in the first quarter of 2024. This was also supported by the sales of Samsung Galaxy S24 phones in the first quarter of next year.
01:02In addition to the increase in the prices of memory chips, Citibank analysts raised the targeted price of Samsung's shares to 120,000 won earlier this month. However, the company is now expecting a slight decline in revenues in the second quarter of next year.
01:21A similar sector was established in the first quarter, which Samsung relies on, which turned into profitability in the last quarter, which recorded 1.9 trillion won, due to the increase in the prices of memory chips, after losses of nearly 5 trillion won in the first quarter of 2023.
01:42The Biden administration recently agreed to grant Samsung nearly $6.4 billion to build a factory in Texas to expand its operations in the United States and abroad.
01:56In addition to the increase in Samsung's profits by more than nine-fold in the first quarter of 2024, Samsung began manufacturing 3nm chips in 2022, and is now planning to manufacture 2nm chips in 2025.
02:18When talking about Samsung and its phones, we must point to the competition between them and Apple in terms of iPhone sales. In the first quarter, iPhone sales declined by 10% on an annual basis to record nearly 40 million units.
02:40As a result, Samsung was able to square off the top of the sales of mobile phones, especially in the sales of the Galaxy S24 during the first quarter, which reached nearly 60 million units.
02:54Today, Apple's market share of mobile phones is nearly 21%, while Samsung's is nearly 23%. Now, the markets are expecting the results of Apple on Thursday after the shutdown.