Samsung reports major progress in supply deal for AI chips
Samsung Electronics on Thursday reported progress on a major supply deal for artificial intelligence-focused chips, aiming to reassure investors following a slowdown in semiconductor profits during the last quarter.
The South Korean technology giant said its operating profit for the July-September period increased by more than 277 per cent from a year earlier to 9.18 trillion won (USD 6.65 billion).
But the figure represented a 12 per cent decline from the second quarter, which Samsung attributed largely to one-off costs, such as provision of employee incentives in its computer chip business, and the effects of a weaker US dollar.
Samsung's semiconductor division earned 3.86 trillion won (YSD 2.8 billion) in operating profit during the quarter, rebounding from a deficit during 2023 but sharply declining from the 6.45 trillion won (USD 4.67 billion) it reported in the April-June period.
While Samsung saw solid demand for AI and server chips during the past quarter, its mobile chip business weakened as some customers adjusted inventories. The market was also affected by Chinese manufacturers' increased supply of legacy memory products, the company said in a statement.
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