Samsung reported a better-than-expected third quarter operating profit of 2.43 trillion Korean won ($1.8 billion) even as profit fell 77.6% year-on-year due to declining memory chip demand. Samsung's Q3 profit jumped 262.6% from Q2, indicating that the memory chip glut may be bottoming out. Samsung expects memory chip demand to gradually improve in Q4, and it plans to expand sales of advanced memory chips like HBM3 used in Nvidia's AI processors, aiming to capture more AI-related demand opportunities in 2024.