South Korean tech giant Samsung Electronics posted on Thursday a 32 percent rise in profits on-year for the third quarter, driven by AI-fuelled market demand for memory chips.

The artificial intelligence industry has provided a major boost to South Korea's Samsung and SK hynix, two of the world's leading memory chip makers, as their products have become indispensable for AI infrastructure.

Samsung's latest earnings report marks a sharp turnaround for the company, which saw its profits plunge more than 50 percent on-year in the second quarter due to the impact of US curbs on AI chip exports to China.

"Operating profit increased to 12.2 trillion won (US$8.5 billion). The Device Solutions (DS) Division reported a 19 percent increase in sales quarter-on-quarter, with the Memory Business set

See Full Page