South Korean tech giant Samsung Electronics said Thursday it expected its fourth-quarter profit to reach a record 20 trillion won ($13.8 billion).
The firm is one of the world’s top memory chip makers, providing crucial components for artificial intelligence (AI) and the infrastructure it relies on.
Its strong forecast comes on the back of soaring demand for high-performance memory chips used in data centres and other infrastructure supporting the AI industry.
Samsung said Thursday it expected operating profit to range between “19.8 trillion and 20.1 trillion won”, which would surpass its record quarterly profit of 17.6 trillion won set in the third quarter of 2018.
If confirmed in its final earnings report, due to be released later this month, the figure would mark an increase of around 200 percent year on year.