Samsung reported a 10x increase y-o-y in Q1 operating profit of $4.8 billion on revenue up 13% at $52.14 billion.

Memory revenues were up 96% at $12.7 billion. The semiconductor business made a Q1 profit of $1.4 billion.

“We plan to increase supply of HBM-related chips in 2024 by more than three-fold
versus last year,” said Samsung vp Jaejune Kim, “commercialisation of the HBM3e product, is going smoothly according to a customer’s timeline. We expect sales to be generated as early as at the end of the second quarter.”

In April Samsung began mass production of its 8-layer HBM3E memories and said it will start producing its 12-layer version in Q2 . It expects HBM3E to account for two thirds of its HBM output by the end of the year.