Samsung Electronics has announced its first-quarter results for 2021 and it shows a general increase from the corresponding results in Q1 of 2020. The South Korean tech giant revealed that it had a consolidated sales margin of about $59.04 billion (65.39 trillion won) and an operating profit of about $8.47 billion in the period ending March 31, 2021.
The results show a general rebound in several aspects of Samsung businesses. There was an 18% improvement in sales of smartphones, TVs, and household gadgets over the past year, which therefore drove operating profits up. The company will also pursue rapid deployment of premium 5G wireless smartphones and secure profitability by significantly reducing the shocks and disruptions occasioned by demand and supply glitches in its production lines.
The outlook for the year remains a mixed bag of uncertainty and promise and the company hopes to continue its growth trajectory by expanding sales of innovative products that are the outcome of a well-researched market demand template. Samsung continues to pursue research that will help it maintain its competitive edge in the tech firmament. The company says it is planning to strengthen its leadership and promote sustainable growth by scaling up the production and sales of lifestyle products and high value-added premium products while remaining highly responsive to market changes.
Samsung Electronics continues to expand its business model in various dimensions. Its consumer electronics arm continues to pursue custom-made home appliances with greater appeal to its teeming consumers across the world. The chipmaking arm of the company is also experiencing massive expansion, as the company lends itself to trying to reverse the global chip shortage, by putting plans afoot to establish new chipmaking plants in the US or South Korea. Samsung remains a strong tech brand with its hand into several segments of the tech ecosystem including consumer electronics, network infrastructure, mobile, display, chipmaking among several others.
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