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Samsung Electronics posts 1Q revenue of KRW 71.92 tn

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Samsung Electronics reported financial results for the first quarter ended March 31, 2024 posting Korean Wong (KRW) 71.92 trillion in consolidated revenue on the back of strong sales of flagship Galaxy S24 smartphones and higher prices for memory semiconductors.

Operating profit increased to KRW 6.61 trillion as the Memory Business returned to profit by addressing demand for high value-added products. The Mobile eXperience (MX) Business posted higher earnings and the Visual Display and Digital Appliances businesses also recorded increased profitability.

The Company’s total capital expenditures in the first quarter stood at KRW 11.3 trillion, including KRW 9.7 trillion for the Device Solutions (DS) Division and KRW 1.1 trillion on Samsung Display Corporation (SDC).

Spending on memory was focused on facilities and packaging technologies to address demand for High Bandwidth Memory (HBM), DDR5 and other advanced products, while foundry investments were concentrated on establishing infrastructure to meet medium- to long-term demand.

Display investments were mainly made in IT OLED products and flexible display technologies.

 

The post Samsung Electronics posts 1Q revenue of KRW 71.92 tn appeared first on DailyNews.

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