Samsung Electronics reported record first-quarter operating profit of $38.4 billion

Samsung Electronics reported record first-quarter operating profit of $38.4 billion

 Jung Yeon-je

Samsung Electronics said on Thursday its quarterly operating profit had jumped 750 percent year-on-year to a record 57.2 trillion won ($38.4 billion) on the back of strong sales of chips crucial for artificial intelligence.

The South Korean technology giant has emerged as a key player -- along with rival SK hynix -- in the supply of high-performing chips in demand from companies racing to keep up with the fast-evolving AI industry.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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