Earlier today (28th October 2021), Samsung Electronics have revealed its financial report for the third quarter of this year, which showcased its strong performance especially with its semiconductor business booming.
In the period between July and September, the South Korean tech giant’s net profits rose by a sizeable 31.3 percent, with the brand’s profits reaching 12.29 trillion won (roughly 10.5 billion US Dollars. The brand shared the financial figures on a regulatory filing that also showcased its operating profits rising by 28 percent in the third quarter, reaching 15.82 trillion won (roughly 13.5 billion US Dollars). Notably, the operating profit was also the largest ever since the third quarter of 2018.
During this same period, the world’s largest smartphone maker’s sales also hit a quarterly record of 73.98 trillion won (roughly 63.2 billion US Dollars). Similarly, Samsung’s operating profits were also up by 26 percent from the previous quarter, with its sales also surging by 10 percent. According to TheKoreanHerald, the primary factor that enabled the company’s strong performance was its chip unit that saw robust growth amid rising memory chip prices, improving yield rates, and higher profitability at its contract based chipmaking business.
Furthermore, its mobile business also saw gains thanks to the launch of its latest generation of foldable smartphones, namely the Galaxy Z Fold3 and Galaxy Z Flip3. While the company saw growth in various segments, certain areas might see a slowdown in the following quarter. Reports have surfaced that point at DRAM/memory chips pricing expected to fall by around 15 to 20 percent in the fourth quarter.
RELATED:
- Samsung Galaxy S22 Ultra display to break record for peak brightness: Report
- Samsung One UI 4 beta testing program ends for the Galaxy S21 models
- Samsung launches Galaxy Z Flip3 in Sweet Pink color option in China
- Samsung Galaxy S21 FE support pages go live again confirming upcoming launch
