Samsung hits record revenue boosted by AI chips

Samsung Electronics posted third-quarter operating profit that exceeded market forecasts by over 1 trillion won, with revenue reaching a record high. Strong server memory sales driven by artificial intelligence and a late-year rebound in high-bandwidth memory boosted results.

In preliminary results released Monday, Samsung reported third-quarter sales of 86 trillion won and operating profit of 12.1 trillion won, up 8.7 percent and 31.8 percent from a year earlier. It was the first time the company’s quarterly revenue topped 80 trillion won. Operating profit was the highest since the second quarter of 2022, when it reached 14.1 trillion won, and exceeded analysts’ recent estimates of 10 trillion to 11 trillion won.

Samsung said gains were driven mainly by memory, foundry, and mobile operations, with rising demand for memory chips from the expanding AI market as the key factor. Major global tech firms racing to build AI servers have created a memory supply shortage. Market researcher Counterpoint Research reported that Samsung reclaimed the top spot in the global memory market in the third quarter. Analysts expect semiconductor earnings to remain strong in the fourth quarter as AI demand continues.

Sales of new foldable phones also boosted results. Samsung launched the Galaxy Z Fold 7 and Z Flip 7 in July. The models, the company’s thinnest foldables to date, set record preorders and sold strongly both domestically and internationally.


박현익 beepark@donga.com