11:20 - 1.08.2024

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August 1, Fineko/abc.az. The operating profit of South Korean corporation Samsung Electronics in the 2nd quarter of 2024 increased 15-fold compared with Q2 of 2023.

ABC.AZ reports that this is evidenced by the data published on the corporation's website.

Operating profit for the period from April to June amounted to 10.4 trillion wons (about $7.5 billion). In the 2nd quarter of 2023, the figure was at the level of 668 billion wons ($487 million). The current operating profit figure is the highest since the 3rd quarter of 2022. The company explained the results by an increase in the average cost of a sale transaction under favorable conditions in the memory chip market. Sales of OLED displays also had positive impact.

Total revenue for Q2 of this year reached 74 trillion wons (23.4% more than a year earlier).