Samsung Electronics has projected a 32 per cent increase in its third-quarter operating profit, buoyed by strong demand for traditional memory chips despite softer sales of high-bandwidth memory products.
In a regulatory filing on Tuesday, the South Korean technology giant estimated its operating profit for the July–September period at about ₩12.1 trillion (US$8.5 billion) — its highest quarterly earnings since the second quarter of 2022.
The projection surpassed market expectations by 17.4 per cent, according to data from Yonhap Infomax, the financial arm of South Korea’s Yonhap News Agency.
Industry analysts attributed the improved performance to firm global demand for server and artificial intelligence (AI) chips, which boosted prices and shipments of NAND and DRAM memory products.
“Samsung has reclaimed the top spot in memory market revenue in the third quarter,” said Counterpoint Research Director MS Hwang. “This was driven by stronger-than-expected prices and volumes of general-purpose DRAM and NAND, spurred by AI-related investments centered on servers.”
The company also disclosed that sales rose by 8.7 per cent to ₩86 trillion during the quarter, though data on net income was not yet available.
Samsung’s prospects are further bolstered by growing mobile revenues, supported by demand for its latest foldable smartphones such as the Galaxy Z Fold7, according to Neil Shah, Vice President at Counterpoint.
Earlier this month, the firm announced preliminary agreements with OpenAI to supply chips and equipment for its “Stargate” project, alongside a US$16.5 billion deal with Tesla to manufacture next-generation AI6 chips at its new facility in Taylor, Texas.
Samsung is expected to release its detailed earnings report at the end of October. Shares of the company rose 2.79 per cent in early trading on the Seoul stock exchange.
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