Analyst(s): Futurum Research
Publication Date: February 2, 2026
Samsung’s quarter reflected strong AI-driven demand in memory, with HBM, server DDR5, and enterprise SSD mix supporting profitability in Device Solutions. Non-memory trends included 2-nanometer foundry progress, expanding image sensor portfolio, and DX focus on AI-driven devices and services.
What is Covered in this Article:
- Samsung’s Q4 FY 2025 financial results
- HBM and server DRAM mix shift
- Foundry 2nm ramp and packaging
- DX, SDC, and MX product and pricing dynamics
- Outlook and Final Thoughts
The News: Samsung Electronics (KRX: 005930) announced Q4 FY 2025 results. Revenue was ₩93.8T, up 24% year over year (YoY). Device Solutions revenue was ₩44.0T (up 46% YoY), including Memory at ₩37.1T (up 62% YoY), while Device eXperience revenue was ₩44.3T (up 9% YoY), including Mobile eXperience at ₩28.3T (up 13% YoY). Samsung Display Corporation revenue was ₩9.5T (up 17% YoY). Operating profit was ₩20.1T, up 209% YoY, with an operating margin of 21.4%. Net profit was ₩19.6T, up 151% YoY, and earnings per share (EPS) were ₩2,909, up 161% YoY.
“We are planning a meaningful increase in our CapEx versus last year. This year, we’ll focus on accelerating the buildup of advanced process capacity, the 1C nanometer process for DRAM and V9 for NAND,” said Soon Cheol Park, VP and CFO of Samsung Electronics.
Samsung Electronics Q4 FY 2025 Highlights AI-Driven Memory Strength
Analyst Take: Samsung’s quarter underscores how AI infrastructure spend is shaping memory mix, pricing, and capital allocation. The company leaned into HBM, server DRAM, and enterprise SSDs to optimize profitability amid tight supply conditions, while DX absorbed seasonal normalization and competitive intensity. Foundry progressed on 2-nanometer gate-all-around (GAA) ramp and broadened packaging capabilities, supporting a more integrated logic–memory–packaging stack. Entering 2026, execution on HBM4 deliveries, server-centric DRAM/NAND, and advanced-node foundry readiness will be central to maintaining momentum.
AI Memory and HBM4 Execution
Management emphasized prioritization of high-value-added products, with HBM, server DDR5, and enterprise SSDs driving mix optimization in Q4. The Memory business plans to begin delivering HBM4 in Q1 FY 2026, including an 11.7 gigabits-per-second SKU aimed at next-generation AI accelerators. Q1 FY 2026 DRAM bit shipment growth is guided to low-single digits due to lean inventories, while NAND bit shipments are guided mid-single digits on a low base. For 2026, Samsung expects strong demand for high-density server DRAM and acceleration in PCIe Gen6 enterprise SSD adoption as AI inference workloads expand. The company highlighted plans to expand sales of AI-related DRAM (DDR5, GDDR7, SoC-attached memory) and focus NAND on high-performance TLC for AI KV-cache SSD use cases. These actions indicate Samsung is positioning memory to capture sustained AI demand while managing supply constraints and pricing discipline.
Foundry Advanced Nodes and Packaging
Foundry began mass production of first-generation 2-nanometer products and shipped 4-nanometer HBM base-die, with revenue supported by U.S. and China customers. Seasonal softness is expected in Q1 FY 2026, but management cited price increases in advanced nodes and continued order momentum from HPC and mobile customers. Second-generation 2-nanometer is targeted for mass production in the second half of 2026, alongside a performance- and power-optimized 4-nanometer process. Packaging capabilities were expanded with 3D hybrid copper bonding for advanced nodes to strengthen end-to-end integration. Taylor fab investments continued, and management reiterated a one-stop solution strategy across logic, memory, foundry, and advanced packaging. These capabilities aim to support customers’ AI roadmaps while improving Foundry’s scale and mix over 2026.
System LSI, Display, and MX Dynamics
System LSI saw seasonal softness in SoCs but grew image sensor revenue, highlighting 200-megapixel and 50-megapixel big-pixel sensors, including 0.5-micrometer pixel leadership. The business plans to ramp new SoCs and expand 200-megapixel sensor offerings, while exploring custom SoC opportunities and enhancing yields to support earnings. Samsung Display benefited from premium smartphone demand and is targeting expansion in IT and automotive, while preparing for QD-OLED product cycles in large-format displays. MX normalized post-launch, and plans to extend AI-driven device leadership with the S26 launch and broader ecosystem integration across tablets and wearables. Rising component costs and price pressure in displays tied to memory pricing were flagged as ongoing headwinds. These moves reflect a focus on premium and AI-led differentiation to sustain profitability amid cost and competitive pressures.
Outlook and Final Thoughts
For Q1 FY 2026, management expects continued AI and server demand to support Device Solutions, with a focus on high-value DRAM and enterprise SSDs, while Foundry faces seasonal revenue moderation. System LSI aims to improve earnings with new SoC ramps and image sensor mix, and Samsung Display expects seasonal softness in smartphones with efforts to support new flagship launches. In 2026, Memory targets leadership in AI workloads with HBM4 and high-density DRAM, while NAND focuses on high-performance TLC SSDs and Gen6 transitions; Foundry targets double-digit revenue growth centered on advanced nodes. Company-wide, Samsung expects higher Memory capex versus 2025 and ongoing process and cost efficiencies, including AI-driven operations and digital twins. Shareholder returns were addressed via dividends per policy, with the board approving year-end per-share dividends for common and preferred stock.
See the full press release on Samsung Electronics’ Q4 FY 2025 financial results on Samsung’s website.
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