Samsung’s quarterly report for Q2 2024 unveils the following details:
Total revenue surged by 23% compared to the same period last year, reaching 74.07 trillion won. Operating Profit saw a notable increase of 9.78%, totaling 10.44 trillion won. Meanwhile, Net Profit stood at 9.84 trillion won.
The memory unit, a key revenue and profit driver for Samsung, reported a revenue of 21.74 trillion won, marking a remarkable 142% growth. This growth is attributed to the demand for infrastructure to support AI processing, driving sales of HBM, DRAM, and SSD. Samsung anticipates this trend to continue in the latter half of the year.
On the other hand, the smartphone business witnessed a slight decline in revenue from the previous quarter due to the flagship smartphone launch in Q1. Nonetheless, the S24 series maintained high sales figures, both in revenue and units delivered.
Source: Samsung (pdf)
TLDR: Samsung’s Q2 2024 report shows significant revenue growth, particularly in the memory unit driven by AI processing demands, while the smartphone business maintains strong sales despite a slight revenue dip post-flagship launch.
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