Samsung Electronics estimated its second-quarter operating profit increased more than 15-fold as widespread demand for artificial intelligence (AI) products helps boost semiconductor prices.
The Suwon, South Korea-headquartered company said in preliminary earnings guidance on July 5 that its operating profit for the three months to June 30 likely rose to 10.4 trillion Korean won ($7.50 billion), compared to a profit of 670 billion won ($485 million), for the same period last year, marking a 1452.2 percent increase year on year.
