Galaxy S24 played a key role: Samsung increases its profit tenfold in the first quarter of 2024

Samsung has published detailed financial results for the first quarter of 2024, and they are really positive. The Korean giant's profit amounted to 6.61 trillion won ($4.85 billion), which is ten times more than in the same period last year.

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The main reason for the return of profits to the 2022 level is strong sales of the flagship Galaxy S24 phones and higher prices for memory semiconductors, the report said. Total revenue also increased by 13%.

In the second quarter, smartphone sales are expected to fall slightly. The business should remain strong thanks to the generative demand of AI.

Source: Samsung