Samsung: Leading the AI revolution, unstoppable even without the crown.

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Samsung remains optimistic about the future of AI-driven smartphones despite posting a 35% drop in profit for the fourth quarter of last year. The South Korean tech giant lost its position as the world’s top smartphone maker to Apple in Q4 2023, but believes that new products, such as AI-powered smartphones, will drive an improvement in demand in the smartphone market this year. Samsung also acknowledged lower smartphone sales in Q4, but noted a pickup in demand for high-end smartphones compared to the previous three months. The company is facing headwinds on multiple fronts, including weak demand for semiconductors and losses in its device solutions unit, which includes its memory chip business. Samsung expects the market to recover gradually this year and anticipates a more significant improvement in the second half of 2024. However, the company warns that ongoing macroeconomic uncertainties could weigh on its business in the near term.

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