Samsung Electronics said on Thursday that its second-quarter operating profit soared 19 times to a record high, thanks to strong demand for artificial intelligence chips offsetting the decline in its mobile business profits. The world's largest memory chip manufacturer reported operating profit of 89.5 trillion won from April to June, which is basically the same as the company's estimate of 89.4 trillion won, a significant increase from 4.68 trillion won in the same period last year. The Korean company's quarterly revenue increased 130% year over year to 171.5 trillion won.

Samsung Electronics said on Thursday that its second-quarter operating profit soared 19 times to a record high, thanks to strong demand for artificial intelligence chips offsetting the decline in its mobile business profits. The world's largest memory chip manufacturer reported operating profit of 89.5 trillion won from April to June, which is basically the same as the company's estimate of 89.4 trillion won, a significant increase from 4.68 trillion won in the same period last year. The Korean company's quarterly revenue increased 130% year over year to 171.5 trillion won.