Samsung Electronics Co., the world’s largest memory chipmaker, on Friday vowed to cut its production of legacy chips and increase sales of premium products, including high-bandwidth memory (HBM), this year after posting weaker-than-expected earnings for the fourth quarter of 2024.“In the first quarter of 2025, our memory business will shift its business portfolio to more high-value-added products by accelerating the migration to cutting-edge nodes to respond to the demand for high-performance and high-density products,” the South Korean tech giant said in a statement.
MEMORY PERFORMANCESamsung said its DS division, which oversees its semiconductor business, posted 2.9 trillion in operating profit on sales of 30.1 trillion won in the fourth quarter of 2024.
For the entire 2024, its net profit surged 122.5% to 34.45 trillion won, while operating profit rose nearly fivefold to 32.72 trillion won from 6.57 trillion won.Annual revenue rose 16.2% to 300.87 trillion won, marking its second-highest yearly figure after an all-time high in 2022.Samsung spent 10.3 trillion won on research and development in the fourth quarter and a record 35 trillion won in R&D projects throughout 2024.
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