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Samsung posts weaker profit recovery as it misses out on AI boom
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Samsung posts weaker profit recovery as it misses out on AI boom
Nov 3, 2024 3:20 PM

SEOUL, Oct 31 (Reuters) - Samsung Electronics ( SSNLF )

said its third-quarter profit jumped from a year

earlier, but the pace of recovery weakened from the prior

quarter as it struggles to cash in on the AI boom that has

benefited chip rivals like TSMC and SK Hynix ( HXSCF )

.

The world's biggest maker of memory chips, smartphones and

TVs posted on Thursday an operating profit of 9.2 trillion won

in the July to September period, compared with 2.4 trillion won

a year earlier and 10.4 trillion won the previous quarter.

The third-quarter result was slightly above Samsung's

preliminary estimate of 9.1 trillion won flagged earlier this

month, which was below market expectations at the time.

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