Samsung, which generates the bulk of its operating profit from semiconductors, is forecast to more than double earnings this year, per analysts' estimates gathered by LSEG

January-March operating profits were expected to rise 931.3 % to 6.6 trillion won ($4.89 billion) while operating profits in the same period last year totalled around 640 billion won

Samsung Electronics on Thursday said the worst is over for the global memory chip market but announced plans to extend production cuts because a demand recovery is largely constrained to high-end chips used in artificial intelligence.