Samsung expects over 1,400% profit rise

Samsung Electronics expects its profits for the three months to June 2024 to jump 15-fold compared to the same period last year, the BBC reports.

An artificial intelligence (AI) boom has lifted the prices of advanced chips, and the South Korean tech giant is the world’s largest maker of memory chips, smartphones and televisions.

The firm also reported a more than 10-fold jump in its profits for the first three months of this year.