A woman walks past a signboard of Samsung Electronics displayed outside the company's Seocho building in Seoul on April 5, 2024. - Samsung Electronics said on April 5, it expects first-quarter operating profits to rise more than 10-fold year on year as chip prices recover.
The expectation exceeded the average estimate by 25.8 percent, according to South Korea’s Yonhap news agency, which referenced its financial data firm.Semiconductors are the lifeblood of the global economy, used in everything from kitchen appliances and mobile phones to cars and weapons. Due to Samsung’s ability to produce higher-layer, non-volatile storage that does not require power to retain data, the firm “is expected to be one of the main beneficiaries,” she told AFP.
That same month, industry tracker International Data Corporation said Samsung regained its position as the top smartphone seller, wresting back the lead from Apple.