Samsung Electronics Q2 records fastest growth since 2010 as demand for AI based system rises

Samsung Electronics said Wednesday it registered its fastest growth since 2010, with operating profits soaring for the second quarter, as chip prices bounce back and demand for generative AI continues to grow.

The world’s largest memory chip maker posted an “operating profit of KRW 10.44 trillion ($7.5 billion) as favorable memory market conditions drove higher average sales price” for the April to June period, it said in a statement.

It added that “robust sales of OLED panels”, used in creating digital displays, had also contributed.