On Friday, during the presentation of its earnings forecast, Samsung announced that in the fourth quarter of 2021, it recorded operating profit of 13.8 trillion won (10.15 billion euros) and revenue. of 76 trillion won (56.24 billion euros).
This is an increase of 52.5% and 23.5%, respectively, compared to the same period of the previous year.
Record turnover thanks to chips and smartphones
According to South Korean analysts, several factors may explain this record increase. First, Samsung’s chip business is said to have contributed the most to the profit increase, as the business unit is expected to post its best performance to date thanks to strong demand. Then, the strong performance of the South Korean tech giant’s mobile business thanks to the growing popularity of its foldable phones also contributed to this increase in revenue.
In the full year of 2021, Samsung reported operating profit of 51.57 trillion won (38.16 billion euros) from operations and 279 trillion won (206.46 billion euros) of recipes. This is the company’s highest turnover to date. The annual operating profit recorded an increase of 43.3% compared to 2020.
Samsung’s previous best annual performance was in 2018, when it recorded 243.77 trillion won (€ 179.3 billion) in revenue and 58.89 trillion won in operating profit (43.32 billion euros) – still its best operating profit figure to date – thanks to unprecedented demand for memory chips.
Source: ZDNet.com