Samsung shows fastest growth in over a decade

Samsung Electronics reported its fastest growth since 2010, with Q2 operating profits soaring 1,462% to 10.44 trillion won ($7.5 billion). The surge is attributed to favorable memory chip market conditions and strong OLED panel sales. Demand for AI-related chips has significantly increased, with HBM sales up 50% from Q1. Despite an ongoing worker strike, Samsung maintains production levels. The company plans to expand capacity for AI chip production and expects strong performance through 2024, boosted by a potential collaboration with Nvidia. AFP