On July 31, 2024, Samsung Electronics released its financial results for the second quarter of 2024, showcasing a strong performance in various sectors.
Key Highlights:
- Quarterly revenue reached KRW 74.07 trillion, with an operating profit of KRW 10.44 trillion.
- The memory market showed signs of recovery, driven by demand for HBM, DDR5, and server SSDs.
- DS Division reported KRW 28.56 trillion in revenue and KRW 6.45 trillion in operating profit.
- System LSI Business achieved record-high sales in the first half of the year.
- Foundry Business saw improved earnings and expects growth in mobile and AI/HPC demand.
- SDC posted KRW 7.65 trillion in revenue, with solid growth in mobile and large display businesses.
- MX and Networks businesses recorded KRW 27.38 trillion in revenue and KRW 2.23 trillion in operating profit.
Memory Market and AI Applications:
The memory market witnessed a recovery in the second quarter, fueled by strong demand for HBM, DRAM, and server SSDs. The Company anticipates continued growth in the second half, especially in AI server applications.
System LSI and Foundry Business:
The System LSI Business reported improved earnings, with plans to expand the application of 200-megapixel sensors and mass production of new DDI models. The Foundry Business expects growth in mobile and AI/HPC applications, aiming to increase customer numbers and sales significantly by 2028.
SDC and MX Business:
SDC saw sales growth in mobile displays and large panels, focusing on product performance and quality assurance. The MX Business faced a slight decline in revenue but achieved double-digit growth with the Galaxy S24 series, despite increased component costs.
Outlook for Second Half of 2024:
Samsung Electronics is poised to meet increased mobile demand, target growth in large panels, and focus on flagship smartphones and ecosystem products for revenue expansion in the coming months.
