However, the figure still reveals a decline from the previous quarter’s profit of 10.4 trillion won as the company faces some challenges within its semiconductor division.

The semiconductor sector, which is essential to Samsung’s profitability, had a downturn, with operating profit plummeting to 3.9 trillion won from 6.5 trillion won in the previous quarter. 

This decline has left investors bothered, especially in light of the company’s recent apology for its underwhelming earnings, attributed to delays in high-bandwidth memory (HBM) sales and increased competition from Chinese firms.

In response to investor apprehensions, Samsung executives revealed a strategic move towards producing high-end chips. 

Jaejune Kim, executive vice president, noted on an earnings call that progress has been made on a major supply agreement, particularly in qualifying HBM3E chips for a significant client, widely speculated to be Nvidia, which commands around 80% of the AI chip market.

Kim believes there will be increased sales of these advanced chips in the upcoming quarter.

Although Ryu Young-ho of NH Investment & Securities commented that Samsung’s progress in supplying HBM3E chips to Nvidia is an important step in reviving its HBM business, he cautioned that the company still faces limitations. 

Meanwhile, SK Hynix, another major player in the semiconductor industry, saw a drop in its shares following Samsung’s announcements, amid fears of an oversupply in the HBM market.

Samsung’s latest earnings statement acknowledged a challenging sector, with traditional chip demand declining for personal computers and smartphones, offset by growth in the AI sector. 

The company projected limited earnings growth in the fourth quarter, as competition within the consumer electronics market intensifies during the important year-end sales period.

The disparity in performance between Samsung and its rivals is becoming increasingly evident. SK Hynix reported a record operating profit of 7 trillion won, driven by robust sales of AI chips, showcasing the competitive pressures Samsung faces. 

Again, the South Korean tech giant is struggling with issues beyond the chip division, as its mobile devices segment reported a decline in operating profit, falling to 2.8 trillion won from 3.3 trillion won a year prior.

The campaign, which commenced on 1 April 2024, is set to run until 31 August 2024 as a rewarding initiative for existing VISA Gold and VISA Infinite cardholders and prospective customers.

Throughout the campaign, 502 lucky Visa Infinite and Visa Gold cardholders will win $50 gift vouchers. 2 cardholders will enjoy an all-expense-paid trip for two to the Olympic Games in Paris, France.

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To qualify for this exciting offer, Visa Infinite and Visa Gold cardholders must spend $500 and above in at least six transactions during the campaign period.

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The FirstBank Visa Gold card is an international premium credit card issued in partnership with Visa International. It is a US Dollar-denominated card secured by chip and PIN technology, ensuring both convenience and security for users.

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iFixit is an American e-commerce and how-to website that sells repair parts and publishes free wiki-like online repair guides for consumer electronics and gadgets

According to iFixit, Qualcomm chip provides 5G connectivity for cellular networks but is also capable of using what is called band N53, the frequency band used by satellites from Globalstar.

Globalstar said earlier that a deal in which Apple will take up to 85% of Globalstar’s satellite network capacity to enable Apple’s new emergency messaging feature.

One of the major new features is the ability to connect to satellites to send emergency messages when there is no Wi-Fi or cellular data connection.

“iPhone 14 includes custom radio frequency composents, and new software designed entirely by Apple, that together enable Emergency SOS via satellite on new iPhone 14 models.”

iPhone 14 release day has been and gone, but Apple’s new phones remain highly sought after. Apple’s latest (and greatest) smartphones, the iPhone 14, iPhone 14 Pro and iPhone 14 Pro Max, are all now available to buy, while the iPhone 14 Plus will follow on October 7.