South Korean tech giant Samsung Electronics on Thursday reported a record operating profit of 89.5 trillion won ($62 billion) for the April-June period. This was reported by Qazaqyia.kz citing Associated Press.
A day earlier, rival SK Hynix also reported record earnings. The world's two largest memory chipmakers continue to ride the global artificial intelligence boom.
Despite soaring profits, their shares have fallen sharply this week in South Korea's volatile stock market, as concerns grow over massive spending on manufacturing capacity and intensifying competition from China.
Samsung's second-quarter operating profit was a more than 19-fold increase from a year earlier, nearly all from its semiconductor business, benefiting from rising chip prices driven by AI server demand and increased shipments of advanced high-bandwidth memory chips. This outweighed an operating loss in its mobile, TV and home appliances division.
Samsung's quarterly revenue of 171.5 trillion won ($119 billion) was also an all-time high. The company expects demand for memory products to remain strong in the second half, driven by AI infrastructure expansion and broader adoption of agentic AI. Demand for server chips is expected to accelerate, keeping the market undersupplied.
A day earlier, SK Hynix reported a record second-quarter revenue of 60.5 trillion won ($42 billion), though its profit remained below peak levels.