Samsung Electronics anticipates a significant profit increase in the second quarter.

Samsung Electronics announced on Friday that it anticipates a significant increase in its second-quarter operating profits, projecting a more than 15-fold rise compared to the same period last year. This surge is attributed to the recovery in chip prices and the growing demand for generative AI technologies. As the leading subsidiary of South Korea's Samsung Group, Samsung Electronics plays a crucial role in the nation's economy, which is heavily influenced by large, family-controlled conglomerates.

According to a regulatory filing, the world's top memory chip manufacturer expects its operating profits for April to June to reach 10.4 trillion won ($7.54 billion), marking a remarkable 1,452.2 percent increase from the 670 billion won reported in the previous year. This forecast surpasses the average market estimate by 25.8 percent, as noted by South Korea's Yonhap news agency, which cited a financial data firm.

Additionally, Samsung projects its sales for the same period to grow by 23.3 percent, totaling 74 trillion won.