After a complicated 2023, Samsung seems to be getting back on track with the first half of 2024. Its results are clearly up, particularly thanks to artificial intelligence.
Has Samsung found the miracle recipe? The firm recently experienced a bit of a wilderness after a very complicated 2023 which signaled the company’s worst results since 2009. Samsung was experiencing several difficulties, particularly relating to its in-house processors and its choice to rely more on Qualcomm’s Snapdragon chips to the detriment of its own in-house SoCs.
Fortunately, 2024 looks set to mark a good start for Samsung. The company has just announced a major increase in its profits in the first months of the year with 7.54 billion dollars recorded. An increase of almost 15 times the profits of the previous year.
To explain these results, the company highlights two major factors:
- The generalization of AI within the tech sphere.
- Production of in-house processors to meet new AI-based needs.
The ever-increasing demand for artificial intelligence therefore seems to be benefiting Samsung. Processors specially designed to meet these new uses have recently seen their prices increase, which has greatly benefited the Korean giant. The mention of AI in investor meetings also seems very profitable and attractive to investors.
It is therefore difficult to escape the phenomenon of artificial intelligence as it seems to be at the heart of investments and marketing strategies in recent months. However, we will have to wait for the first results of 2025 or 2026 to observe possible first repercussions, in particular with the end of the free use of Galaxy AI within smartphones from Samsung.