Samsung has the smartphone sales top spot, but not because of AI or Apple weakness
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Samsung expects AI to drive sales of chips and smartphones in 2024
Samsung said on Tuesday that it expects the demand for chips and tech devices to remain strong throughout the year, driven by AI.The company reported an operating profit of 6.61 trillion won for the first quarter, a tenfold surge from a year earlier as its chip division returned to profitability after a severe downturn last year. Revenue also jumped 12.8% to 71.92 trillion won in the quarter, backed by strong sales of Galaxy S24 smartphones and increased prices of memory chips, Samsung...
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Samsung gets back on track with tenfold increase in profit for Q1 2024
Samsung posted its detailed financial results today for the first quarter of 2024, and it's really positive. The Korean giant reported an operating profit of KRW6.61 trillion ($4.85 billion), which is a tenfold increase over the same period last year. A major reason why profit is back to 2022 levels are the strong sales of flagship Galaxy S24 phones and higher prices for memory semiconductors, the report states. Overall revenue also rose 13%. Expectations for the second quarter are that...
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Canalys: Global smartphone shipments up 10% in Q1, Samsung regains top spot
The latest report from Canalys estimates that a total of 296.2 million smartphones shipped globally in Q1, 2024. The figure represents a 10% year-on-year growth and the first double-digit growth in ten quarters. Samsung regained the top sport with a 20% market share and 60 million shipments. The positive results were driven by the refreshed Galaxy A series and robust demand for the flagship S24 series. The earlier launch date for the S24 series also helped Samsung as it managed to ship 13.5...