As the computer memory chip market rejuvenates, Samsung Electronics revealed a ten-fold increase in operational profit for the recent quarter, driven by the expansion of artificial intelligence technologies.

The leading South Korean manufacturer of smartphones and semiconductors made public about its operating profit for the January-March quarter which was 6.6 trillion won ($4.8 billion), comparably higher than the 640 billion won ($465 million) made in the same time last year.

Thanks to strong sales of its flagship Galaxy S24 smartphones and rising memory chip costs, revenue rose by over 13 percent to 17.9 trillion won ($52 billion, according to the company.

Its semiconductor wing welcomed its first quarterly profit with an operating profit of 1.91 trillion won ($1.38 billion) since the fourth quarter, while the chip market continues to bounce back from a cyclical slump caused by the COVID-19 pandemic and trade tensions worldwide.

Previously, Samsung anticipated a growth in generative AI technologies to boost demand for both advanced chips used for process AI, and conventional chips used in servers, including high-bandwidth memory, and that the memory chip market will stay robust in the upcoming months.

In terms of smartphones, the business will keep concentrating on increasing sales of its top model, the Galaxy S24, which has a number of innovative capabilities made possible by AI, such as live translation in 13 languages and 17 dialects during phone conversations.

The world's largest memory chip manufacturer, a Korean technological corporation, has struggled over the past year due to low demand for microchips caused by a decline in consumer electronics sales, which has negatively impacted its flagship semiconductor sector.

Recently, as demand for microchips for AI tools has increased, semiconductor prices have rebounded from record lows, which led to Samsung releasing its worst quarterly results in 14 years in the middle of 2022.