Samsung is expected to record its highest earnings in over a year in its latest quarter on the back of recovering demand for chips.
The South Korean tech giant said on Friday in its preliminary earnings guidance for the first quarter of 2024 that it expected 71 trillion won in revenue and 6.6 trillion won in operating profit, an increase of 11% and 931%, respectively, from a year earlier.
It marks a return to form for Samsung, which saw its operating profit nosedive to 640 billion won in the first quarter of last year as the downcycle of the semiconductor market began in earnest.
