Samsung Electronics and LG Electronics are expecting to see a great performance in 2022, with both companies projected to see the highest ever sales since their establishment this year.

Samsung

According to an ETNews report, Samsung is forecasted to bring 75.26 trillion KRW (roughly $63 billion) in sales and 15.07 trillion KRW (roughly $12 billion) in operating profit in the fourth quarter of this year. In other words, the South Korean tech giant’s sales surpassed the third quarter of this year, while also marking an increase of 67 percent over the same period last year. Furthermore, the company is forecasted to earn 278.67 trillion KRW (roughly $234 billion) annually in 2022, which is its highest ever revenue that even crosses its 2018 earnings,

During this year, the company’s operating profits are expected to hit 52.83 trillion KRW (roughly $44 billion), which is also the highest since 2018. The news also arrives amid an explosive demand for semiconductors. Daishin Securities researcher, Soo-bin Lee stated that “Samsung Electronics is expected to enter the upcycle of DRAM memory semiconductors in the new year,” while another researcher, Yu-mi Cha, said that “The situation of automotive semiconductor parts shortage will improve after the first half of the year.”

Samsung

Similarly, South Korea’s LG is also expecting record performance this year. Its overall sales and operating profits is projected to hit 19.67 trillion KRW (roughly $16 billion) and 831.3 billion KRW (roughly $700 million) respectively. However, while the company saw record high revenue, its operating profits were lower than the first quarter of this year. Despite this, the brand is projected to hit 73.70 trillion KRW (roughly $62 billion) in annual sales for the first time in its history while its annual operating profit is expected to hit the record high of 4 trillion KRW (roughly $3 billion).

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