Samsung released its report on the financial results in the final quarter of last year. Thanks to solid sales of semiconductor chips and slightly higher sales of smartphones, the South Korean company's operating profit for the last three months of 2021 reached a four-year high.
Samsung Electronics' Q4 2021 sales reached KRW 76,57 trillion (approximately $63,64 billion), while operating profit was KRW 13,87 trillion (approximately $11,52 billion). The company thus reported a net profit of KRW 10,8 trillion (approximately $8,97 billion) in the fourth quarter. Samsung's revenue was 24% higher than in Q4 2020, but operating profit was down slightly from Q3 2021 due to special bonuses paid to employees. For the full year, the company's sales reached an all-time high of 279,6 trillion KRW (approximately $232,43 billion) and operating profit was 51,63 billion KRW (approximately $42,92 billion).
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SOCIETY she stated in her press release, that the record numbers are primarily due to strong sales of semiconductor chips, premium smartphones such as foldable devices, and other accessories that fall into the company's ecosystem. Sales of premium home appliances and Samsung TVs also increased in Q4 2021. The company's memory revenue was slightly lower than expected due to various factors. However, the foundry business posted record quarterly sales. The company's sales also increased in small-size OLED panels, but losses deepened in the large-display segment due to falling LCD prices and higher production costs for QD-OLED panels. The company said its mobile OLED panel business could see a big boost thanks to increased demand for foldable OLED panels.
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