Samsung Electronics announced its financial results for the fourth quarter of 2021 on January 27. The company posted KRW 76.57 trillion (about $63.6 billion) in consolidated sales, setting a new quarterly record. The quarterly earnings record also hit a four-year high.
For the full year, Samsung reported KRW 279.6 trillion (about $232.4 billion) in revenue and KRW 51.63 trillion (about $42.9 billion) in operating profit. Samsung attributes strong sales growth and operating profit to “extensive sales” of its best Android phones, smart TVs and home appliances. Operating profit was also driven by the strong performance of Samsung’s semiconductor business.
Samsung’s mobile and network businesses generated KRW 28.95 trillion (approximately $24 billion) in consolidated revenues and KRW 2.66 trillion (approximately $2.21 billion) in operating profit in the fourth quarter. The business unit’s sales increased compared to the previous quarter due to strong seasonality at the end of the year, as well as an increase in sales of premium phones, including foldable and Galaxy S-series models.
Samsung expects demand for smartphones and tablets to decline in the first quarter due to weak seasonality and lingering uncertainties about component supply. Despite these challenges, Samsung is confident that the Galaxy S21 FE and the new Galaxy S22 series of phones will enable it to secure “solid profitability”.
Samsung is also confident that its display business will continue to perform well, as the demand for OLED displays is expected to grow further as 5G and foldable phones become more popular. The company is looking to secure its technology leadership in the premium TV segment with Quantum Dot displays as it draws the curtain on its LCD production line.
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This post Samsung’s fourth quarter revenue up 24%, driven by strong premium smartphone sales
was original published at “https://www.androidcentral.com/samsungs-q4-21-financial-results”