Samsung is selling fewer chips overall but making significantly more money by prioritizing high-priced AI memory over standard consumer chips. A quick look at memory economics: Chips for AI servers, especially HBM in data centers, use more wafer capacity. As a result, Samsung’s Q4 memory profit grew more than five times compared to last year, far outpacing growth in smartphones and displays. This matches what the industry is seeing: memory prices should remain strong until supply increases. Mobile profits are down because higher chip prices have raised manufacturing costs.