Samsung: Tech giant sees profits jump by more than 900%

- Samsung Electronics expects profits for Q1 2024 to increase over 10-fold compared to a year ago. - This is due to chip prices recovering and high demand for AI-related products. - Samsung is the world's largest maker of memory chips, smartphones, and televisions. - Operating profit estimated to be 6.6 trillion won ($4.9bn) in Jan-Mar, 931% higher than 2023. - Earnings boosted by semiconductor price rebound; global memory chip prices up around 20%. - Semiconductor division is Samsung's biggest revenue earner. - Demand for semiconductors to remain strong this year, supported by AI technology growth. - Taiwan earthquake on 3 April may tighten global chip supply, potentially allowing Samsung to raise prices. - TSMC, a major chipmaker in Taiwan, saw some disruption but said it did not majorly impact production. - Samsung's new flagship Galaxy S24 smartphones, launched in January, expected to boost sales.