Reports Q1 revenue KRW 71.92T vs. KRW 63.75T last year. Reports Q1 operating profit KRW 6.61T vs. KRW 0.64T last year. In Memory, the company said, “Overall demand was strong and prices continued to rise with solid demand for DDR5 and storage for generative AI. The business recorded strong growth and returned to profit by responding to demand for high-value-added products.” Q2 Outlook for Memory segment: “Expect demand to grow for products used in AI as well as for those for conventional server and storage. Expect mobile demand to stay stable thanks to continued sell-in by major customers. Allocate production more to server and storage than to PC and mobile to optimize our portfolio.” 2024 Outlook for Memory segment: “Expect business conditions to remain strong, including for server and storage, despite volatility related to macro trends, geopolitical issues, etc. Anticipate strong demand for PC/mobile thanks to the expansion of on-device AI.”
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