Here’s another thing AI can do: Return Samsung’s memory biz to profit

Samsung Electronics' Device Solutions unit reported on Tuesday a 68 percent year-on-year increase in sales for Q1 2024, largely thanks to its memory sales – a result that confirms what many had predicted: an AI and server boom has brought the chip shop out of the lows experienced in 2023.

The increase in sales translate to Device Solutions (DS) revenue of ₩23.14 trillion ($16.77 billion). A 96 percent year-on-year increase in memory sales accounted for ₩17.49 trillion ($12.68 billion) of that total.

Operating profit for the DS unit rose 6.5 percent to ₩1.91 trillion ($1.39 billion).

Overall, Samsung Electronics net income stood at ₩6.62 trillion ($4.8 billion) – more than four times the ₩1.4 trillion ($1.02 billion) reported for the same quarter in 2023.

"Looking ahead to the second quarter, the industry is expected to remain solid, led mainly by demand ...