Samsung Sees Smartphone and Tech Devices Demand Recovering in 2024 After Record Chip Loss

Samsung Electronics flagged a continued recovery in memory chips and tech demand in 2024, after reporting a 34 percent drop in fourth-quarter profit despite a memory price rebound as consumer demand remained weak in many businesses.

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The world's biggest maker of memory chips said it expected mobile and PC makers to place more, better chips in devices as use of artificial intelligence expands, while the need to replace older servers would also aid a gradual demand recovery.