"Samsung's First-Quarter Profit Soars 10-Fold on Chip Price Recovery"

Samsung Electronics expects its first-quarter operating profit to increase more than 10-fold, surpassing market expectations, due to a rebound in chip prices driven by the artificial intelligence boom. The estimated operating profit of 6.6 trillion won ($4.89 billion) exceeded forecasts, while revenue fell slightly short. The company's chip division is anticipated to report its first quarterly profit in five quarters, with memory chip prices rising significantly. Additionally, the launch of the new flagship Galaxy S24 smartphones contributed to a solid profit in the mobile business.