Samsung Electronics claims that its revenue for the first three weeks of 2024 will increase by more than tenfold over the same period last year.
It comes as chip prices rebound from a post-pandemic slump and as demand for products relating to artificial intelligence ( AI ) rises.
South Korea- based Samsung is the world’s largest manufacturer of memory cards, smartphones and televisions.
On April 30th, the business is scheduled to release a thorough financial report.
Following a significant decline a year earlier, its earnings are anticipated to be boosted by a rise in silicon prices on the international market.
International memory chip prices are thought to have increased by about a five in the last year.
The silicon division of Samsung is typically the company’s biggest income earner.
This time, helped by the increase in AI systems, is expected to continue to be strong in demand for semiconductors.
The world supply of cards may also be tightened by the earthquake that hit Taiwan on April 3, which could cause Samsung to increase prices further.
Taiwan is home to some big chipmakers, including TSMC- which is a distributor to Apple and Nvidia.
TSMC has stated that the earthquake did not significantly affect its output, but that it did experience some operational upheaval.
Samsung is also expected to get a raise from sales of its new flagship Galaxy S24 phones, which were launched in January.