Reported about 1 year ago
Ahead of its Unpacked 2024 event in Paris, Samsung released its financial results for the second quarter of the 2024 fiscal year, attributing the growth of its memory business to the increasing demand for artificial intelligence technologies. The overall profit surged to 10.4 trillion Korean Won (about 75.4 billion USD), significantly higher than the previous year's 6.7 trillion, surpassing market expectations. Samsung's profit for this quarter was the highest since the third quarter of the 2022 fiscal year. The price increase of memory products driven by the development of AI applications contributed to Samsung's profit growth, including high-bandwidth memory (HBM) used in AI servers, memory modules for AI PCs and smartphones, and the significant demand for NAND flash memory. However, Samsung still lags behind SK Hynix in the competitive high-bandwidth memory and SSD application markets, facing pressure from Micron's competition. There's also ongoing market interest in Samsung's entry into the AI server wave led by NVIDIA, even as NVIDIA collaborates mainly with SK Hynix for its upcoming 'Blackwell' GPU. Micron also plans to deepen its collaboration with NVIDIA by investing in HBM3e high-bandwidth memory and developing HBM4 products for NVIDIA's next-gen architecture 'Rubin'.
Source: YAHOO