Samsung Electronics said Tuesday it expected third-quarter profits to jump almost three-fold, but fell short of market expectations as it struggled to leverage robust demand for chips used in artificial intelligence servers.
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A man walks past a signboard of Samsung Electronics outside the company's Seocho building in Seoul on October 8, 2024. Samsung Electronics said on October 8 it expected third-quarter profits to jump almost three-fold, but fell short of market expectations as it struggled to leverage robust demand for chips used in artificial intelligence servers. (Photo by Jung Yeon-je / AFP)
Mariyath Mohamed
2024-10-08 10:03:33
Samsung Electronics said Tuesday it expected third-quarter profits to jump almost three-fold, but fell short of market expectations as it struggled to leverage robust demand for chips used in artificial intelligence servers.
The firm is the flagship subsidiary of South Korean giant Samsung Group, by far the largest of the family-controlled conglomerates that dominate business in Asia's fourth-largest economy.
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