Samsung posts weaker profit recovery as it misses out on AI boom

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SEOUL : Samsung Electronics 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.

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.

FILE PHOTO: People walk past a Samsung Electronics booth during CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, U.S.January 9, 2024.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: 2024 Experience Profit Year Samsung Electronics Third-quarter Quarter Trillion Mediacorp File

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 07:56:09 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 194 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 23343396

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