(Seoul = Yonhap News) Reporter Lim Seong-ho = Strong demand due to the unprecedented super cycle (great boom) of memory semiconductors and strengthening competitiveness of high-bandwidth memory (HBM) served as driving forces for Samsung Electronics to record 107.4 trillion won in provisional operating profit in the third quarter of this year, becoming the first domestic company to record a quarterly operating profit of 100 trillion won.
This operating profit is expected to rank first, easily surpassing global big tech for two consecutive quarters following the second quarter of last year. If this trend continues, Samsung Electronics could surpass Nvidia and become the company with the world's No. 1 operating profit on an annual basis this year.
Samsung Electronics announced on the 8th that it recorded 195 trillion won in sales and 107.4 trillion won in operating profit on a consolidated basis in the third quarter of this year.
Although report cards by division were not released on this day, the industry believes that the semiconductor (DS, device solution) division posted an operating profit of close to 110 trillion won.
Within the DS division, the DRAM division is estimated to have achieved an operating profit of 80 trillion won, and the NAND division is estimated to have achieved an operating profit of close to 30 trillion won. Memory operating profit margin is estimated to be in the 70% range, with DRAM operating profit margin being about 80% and NAND operating profit margin being 70-75%.
This is interpreted as the impact of the global increase in investment in artificial intelligence (AI) infrastructure, resulting in a shortage of overall memory supply such as DRAM and NAND, leading to a continued upward trend in prices. There is an analysis that the increase in operating profit has accelerated with the expansion of HBM sales.
According to a survey by market research firm DRAM Exchange, the average price of general-purpose DRAM products for PC last month was $26, rising for six consecutive months and breaking an all-time high. The average price of general-purpose NAND products for memory cards and USB also rose to $30.6, rising for 21 consecutive months and hitting a record high.
There is an analysis that Samsung Electronics is significantly improving its performance by strengthening its market dominance in the HBM market, the next-generation AI memory.
Samsung Electronics achieved related sales of $1 billion (approximately KRW 1.3 trillion) in about four months after mass producing and shipping HBM4 (6th generation) for the first time in the world in February. Afterwards, in the second quarter performance announcement conference call, it was predicted that HBM4 sales in the third quarter would more than triple compared to the previous quarter.
According to market research firm Counterpoint Research, Samsung Electronics' HBM market share rose from 21% in the first quarter of this year to 33% in the second quarter, and its share is expected to expand further with full-scale HBM4 shipments in the second half of the year.
Hanwha Investment & Securities analyzed, "HBM4 is significant in that it is the first generation where Samsung Electronics' memory and foundry (semiconductor consignment production) capabilities began to create synergy within one product." He added, "Samsung Electronics' HBM4 will raise both technological competitiveness and performance to the next level."
Samsung Electronics' operating profit this time is the highest ever, exceeding 100 trillion won on a quarterly basis, even excluding performance bonus provisions, which are estimated to exceed 10 trillion won.
Compared to global companies, it is ranked first among the world's private companies, far exceeding the highest quarterly operating profits of Nvidia ($63.7 billion, KRW 85.4 trillion) and Apple ($50.9 billion, KRW 68.2 trillion), respectively.
The securities market sees Nvidia's operating profit consensus (market average forecast) for the third quarter of this year at $71 billion (KRW 95 trillion), so it is highly likely that Samsung Electronics will rank first in operating profit in the third quarter as well as in the second quarter.
Accordingly, there are predictions that Samsung Electronics could surpass Nvidia this year and become the company with the largest operating profit in the world.
According to Yonhap Infomax's compilation of forecasts from securities companies that have published reports within the past month, the consensus for Samsung Electronics' annual operating profit this year is 367 trillion won.
According to Stock Analysis, an American stock analysis platform, Nvidia's consensus operating profit for the latest fiscal year (February 2026 to January 2027) is $268.86 billion (KRW 360.2 trillion). If this forecast becomes a reality, Samsung Electronics will generate slightly more operating profit.
