Samsung Electronics (005930.KS) posted record-high memory semiconductor revenue of $50.4 billion (approximately 74.5 trillion won) in the first quarter of this year. Both DRAM and NAND flash — the company's two main pillars — simultaneously achieved industry-record sales, marking an unprecedented milestone. The results reflect Samsung's complete recapture of leadership in high bandwidth memory (HBM) in the artificial intelligence era, combined with maximized profitability as the dominant No. 1 supplier in the commodity memory market.
According to market research firm Counterpoint Research on Wednesday, Samsung Electronics maintained its global top position with first-quarter memory revenue of $50.4 billion. By segment, DRAM recorded $37 billion (approximately 54.7 trillion won) and NAND recorded $13.4 billion (approximately 19.8 trillion won), with both segments achieving all-time high sales. The figure represents a 167% surge from the $18.9 billion (approximately 27.9 trillion won) recorded in the third quarter of 2018, the previous peak of the semiconductor super cycle.
Fueled by the sharp rise in memory revenue, Samsung Electronics' overall results also set new records. Based on preliminary first-quarter earnings, Samsung posted revenue of $90.8 billion (approximately 133 trillion won) and operating profit of $38.9 billion (approximately 57.2 trillion won). Excluding Apple and Aramco, which recently reported quarterly results, this is the highest operating profit. Counterpoint Research analyzed that "the key driver behind these results is Samsung's strategy of evolving beyond a simple chipmaker into a 'total AI solution provider' by combining memory competitiveness with foundry and advanced packaging technologies."
Samsung Electronics' upward momentum is expected to accelerate in the second quarter as well. AI demand is surging across all fronts, intensifying memory supply shortages. Counterpoint Research forecast that memory prices in the second quarter will spike more than 80% in the mobile segment and more than 50% in the PC segment.
Choi Jeong-gu, a principal researcher at Counterpoint Research, said, "Samsung's strong performance will continue until 2027, when expanded supply volumes become visible." He added, "Particularly in sixth-generation high bandwidth memory (HBM4), the company has solidified its leadership by adopting 10-nanometer-class sixth-generation (1c) DRAM core dies and 4-nanometer foundry-based base dies, and has also secured the most advantageous position in the upcoming HBM4e (seventh-generation) competition."
Analysts also cautioned against complacency over short-term strong results, stressing that fundamental restructuring is essential to prepare for the coming era of "customized AI memory." The memory industry's paradigm is rapidly shifting from low-variety mass production to a "customer-centric business model." Choi said, "Starting from next-generation HBM, thoroughly customized products will become the mainstream, and even in commodity DRAM, major clients will increasingly seek to secure optimized volumes through long-term supply agreements (LTAs)." He emphasized, "Samsung must go all in on preventing the departure of key talent and investing in next-generation technologies to maintain its ultra-wide gap and make another leap forward."