SEOUL -- South Korea's Samsung Electronics said Tuesday that its operating profits for the July to September period were down 77.57 percent from the year before, even as new smartphone releases boosted revenue.
Samsung said that "earnings in system semiconductors were impacted by a delay in demand recovery for major applications". "The server demand for generative AI-oriented, high-density and high-end products remained strong", in comparison to the sluggish demand for conventional servers, it said. Demand swelled during the pandemic as consumers bought computers and smartphones during lockdowns, prompting chipmakers to ramp up production.
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