economy
Samsung’s smartphone biz posts first ever loss, but profit still soars 1,300 percent on RAM.
Samsung Electronic’s memory chip business is killing it, hitting $49.64 billion for the quarter and driving over 99 percent of its operating profit. But the price gouging created by the AI hype caused its smartphone and home-appliance businesses to post modest operating losses due to the higher cost of chips and other components.
TL;DR
- Samsung's memory chip business achieved $49.64 billion in quarterly revenue.
- The memory chip division was responsible for over 99 percent of Samsung's operating profit.
- AI hype caused price gouging on chips, increasing component costs.
- Samsung's smartphone and home appliance businesses experienced operating losses due to higher chip costs.
- The company's other business segments saw modest operating losses.