SEOUL, April 7 (Bernama-dpa) -- Samsung Electronics on Tuesday forecast a more than eightfold increase in first-quarter operating profit, driven by robust demand for advanced memory chips used in artificial intelligence (AI), reported German Press Agency (dpa).
The world's largest memory chipmaker estimated consolidated operating profit of 57.2 trillion won (US$37.9 billion) for the January to March period, up from 6.69 trillion won (US$44.4 billion) a year earlier.
The result was 36.7 per cent above the average estimate, according to a survey by Yonhap Infomax, the financial data arm of Yonhap News Agency, and would mark the first time the company's first-quarter operating profit has exceeded 50 trillion won (US$33.2 billion).
Samsung has been a major beneficiary of surging demand for high-end memory chips used in AI, as rapid expansion in data centre investment tightens the supply of conventional semiconductors for consumer devices and drives up prices.
The company said it expects consolidated sales of about 133 trillion won (US$88.2 billion), up roughly 68 per cent from a year earlier. It is scheduled to release detailed earnings later this month.
-- BERNAMA-dpa
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