After earlier this month, has its financial results for the second quarter of this year. The South Korean firm reported a 23.42% rise in revenue and a meteoric rise of 1,458% in operating profit in Q2 2024 compared to last year. These better-than-expected numbers are due to the rise in memory chip prices amid the ongoing AI boom.
Samsung revealed its final financial figures for Q2 2024. The company's revenue was KRW 74.07 trillion (~$53.5 billion), which is 23.42% higher compared to Q2 2023. Its operating profit during the second quarter was KRW 10.44 trillion (~$7.5 billion), which is 1,458% higher than last year.
These numbers are higher than analysts' estimates. The South Korean firm revealed that its great numbers are due to improved memory chip (HBM and DRAM) sales and profitability. It also said its display panel business () is doing well due to OLED panel sales. The company invested KRW 8.05 trillion (~$5.83 billion) in research and development for future growth.
This is the first profit the South Korean firm's chip business () has seen in over a year. Its Device Solutions business saw sales of KRW 28.6 trillion (~$2.07 billion) and an operating profit of KRW 6.45 trillion (~$4.67 billion).
Samsung expects memory chip ( and SSD) sales to remain strong for the rest of the year. It is expanding the production of HBM and server DRAM chips, which might affect the production of its conventional DRAM chips.
Its HBM3 chips for China-bound AI chips, and reports indicate that its by Nvidia by November 2024. So, the outlook for the company's HBM chips remains strong. The company is already working on HBM4 chips that might be ready by 2026.
Samsung's smartphone sales declined slightly in Q2 2024, which is usual for the company. The company launches its flagship phones in the first quarter of each year and usually sees higher sales during that quarter. In the second quarter, sales are lower as there are no major launches that people look forward to. However, Samsung says that sales of the series remain strong.
The company launched two new high-end phones, the and the , earlier this month. Both phones have Galaxy AI features, and you can watch them in our video below.
Samsung also revealed that its business arm is focusing on its business capabilities to ensure a stable supply of the chip for “flagship products.” This is the first time Samsung has confirmed the existence of the Exynos 2500, which is expected to be used in Galaxy S25 smartphones.
It said the response to its , the , has been positive. The chip is used in the Galaxy Watch 7 and the Galaxy Watch Ultra. So, the company hopes it won't face any issues with the Exynos 2500, which could be announced in Q4 2024 or Q1 2025. The Galaxy S25 series will likely go official in January 2025.
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Samsung Q2 2024 profit was better than expected
Samsung revealed its final financial figures for Q2 2024. The company's revenue was KRW 74.07 trillion (~$53.5 billion), which is 23.42% higher compared to Q2 2023. Its operating profit during the second quarter was KRW 10.44 trillion (~$7.5 billion), which is 1,458% higher than last year.
These numbers are higher than analysts' estimates. The South Korean firm revealed that its great numbers are due to improved memory chip (HBM and DRAM) sales and profitability. It also said its display panel business () is doing well due to OLED panel sales. The company invested KRW 8.05 trillion (~$5.83 billion) in research and development for future growth.
OLED, HBM, and SSD sales helped Samsung achieve impressive revenue
This is the first profit the South Korean firm's chip business () has seen in over a year. Its Device Solutions business saw sales of KRW 28.6 trillion (~$2.07 billion) and an operating profit of KRW 6.45 trillion (~$4.67 billion).
Samsung expects memory chip ( and SSD) sales to remain strong for the rest of the year. It is expanding the production of HBM and server DRAM chips, which might affect the production of its conventional DRAM chips.
Its HBM3 chips for China-bound AI chips, and reports indicate that its by Nvidia by November 2024. So, the outlook for the company's HBM chips remains strong. The company is already working on HBM4 chips that might be ready by 2026.
Smartphone sales dipped slightly during Q4 2024
Samsung's smartphone sales declined slightly in Q2 2024, which is usual for the company. The company launches its flagship phones in the first quarter of each year and usually sees higher sales during that quarter. In the second quarter, sales are lower as there are no major launches that people look forward to. However, Samsung says that sales of the series remain strong.
The company launched two new high-end phones, the and the , earlier this month. Both phones have Galaxy AI features, and you can watch them in our video below.
Samsung confirms 3nm Exynos 2500 for Galaxy S25
Samsung also revealed that its business arm is focusing on its business capabilities to ensure a stable supply of the chip for “flagship products.” This is the first time Samsung has confirmed the existence of the Exynos 2500, which is expected to be used in Galaxy S25 smartphones.
It said the response to its , the , has been positive. The chip is used in the Galaxy Watch 7 and the Galaxy Watch Ultra. So, the company hopes it won't face any issues with the Exynos 2500, which could be announced in Q4 2024 or Q1 2025. The Galaxy S25 series will likely go official in January 2025.
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