Samsung is the largest chaebol in South Korea. Chaebols refer to large, family-owned conglomerates that play a central role in the country's economy and political landscape. (Archive photo). Photo: Steve Marcus/Reuters
Samsung’s revenue and profit surge
Samsung Electronics foresees a second-quarter operating profit of $7.5 billion, a surge from last year’s $446 million, elevated by stable memory chip prices and increased demand for AI-driven content creation. Sales also climbed by 23.4% to around 370 billion kroner. AI advancements, like the popular ChatGPT chatbot, have fueled a spike in the necessity for advanced chips, which Samsung, a key HBM chip manufacturer for AI processors, plans to strategically supply. Challenges arose in July with Samsung Electronics union strikes in South Korea, pushing for improved employment conditions.