Archive · 30 Jul 2026
Samsung Electronics Posts Record Q2 Profit Amid AI Chip Boom
Samsung Electronics, a big South Korean tech company, made a lot of money in the second quarter of 2024.
It earned 89.5 trillion won, which is about $62 billion, and sold $119 billion worth of products.
Most of the money came from its semiconductor business, which makes computer chips.
These chips are needed for AI computers and other high‑speed machines.
Even though its phone and TV business lost money, the chip sales were so good that the company still made a huge profit.
The company expects more chip demand later in the year because more AI systems are being built.
Samsung and its rival SK Hynix are both investing a lot of money to build new chip factories, but some investors worry that the spending might be too high.
Samsung Electronics reported a record operating profit of 89.5 trillion won ($62 billion) for Q2 2024.
Revenue reached an all‑time high of 171.5 trillion won ($119 billion).
The semiconductor division drove most earnings, benefiting from AI server demand and high‑bandwidth memory chip sales.
Mobile, TV and home appliance units posted operating losses due to higher component costs.
Samsung and SK Hynix plan to invest 800 trillion won ($554 billion) in a new chip‑making hub in South Korea’s southwest.
- Who
- Samsung Electronics and SK Hynix
- What
- Reported record Q2 operating profit and revenue
- When
- Quarter ended June 30, 2024
- Where
- South Korea
- Why
- Strong demand for AI server and memory chips
- Operating profit
- 89.5 trillion won ($62 billion)
- Revenue
- 171.5 trillion won ($119 billion)
- Quarter
- Q2 2024
- Primary driver
- Semiconductor division
- Market context
- AI boom and high demand for memory chips