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Samsung Electronics (KRX:005930) provided head-turning revenue and profit estimates in a bare-bones first-quarter trading update today. The Korean technology giant predicted quarterly revenues of 71 trillion Korean won and an operating profit of 6.6 trillion won.

Mehdi Hosseini, senior tech hardware analyst of Susquehanna International Group, says Samsung, which "used to be the market leader in innovating for memory, for smartphones, for display," is now only "benefiting from the cycle recovery."

Samsung's operating profit in the January-March quarter likely rose to 6.6 trillion Korean won ($4.89 billion).

Samsung Electronics estimated on Friday a more than 10-fold rise in its first-quarter operating profit, as rebounding semiconductor prices lifted earnings from a low base a year ago when there was a severe downturn in chip demand.

Samsung Electronics is expected to post a near nine-fold increase in first-quarter profit from a year earlier as rebounding semiconductor prices lift earnings from a low base caused by a severe chip downturn.

Chip makers SK Hynix and Micron have gained, but Samsung's financial and tech capacity are ready to shine.

Samsung could add generative artificial intelligence technology to its voice assistant Bixby, a top executive at the company told CNBC.

Samsung shares (005930.KS) on the South Korean stock exchange jumped over 5% Wednesday on reports that Nvidia (NVDA) is testing Samsung's next generation of memory chips for possible use in its future graphics processing units (GPUs).

Shares of South Korean heavyweight Samsung Electronics soared more than 5%.

Samsung Electronics expects $100 million or more of revenue from its advanced chip packaging business this year, co-CEO Kye-Hyun Kyung said on Wednesday.