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Samsung reports record profit as South Korean chip giants benefit from global AI boom
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The Independent News
That outweighed an operating loss in its mobile, TV and home appliances division, partly due to higher component costs.
Samsung’s quarterly revenue of 171.5 trillion won ($119 billion) was also an all-time high.
Samsung’s report came a day after SK Hynix also reported a record second-quarter revenue of 60.5 trillion won ($42 billion).
However, SK Hynx’s profit was still below the loftier market expectations and the company’s shares declined by more than 9% on Monday.
Investor concerns were also heightened by the strong stock market debut of Chinese memory chipmaker ChangXin Memory Technologies, some analysts say.