Samsung has announced its financial results for Q1 of 2021, the company saw an increase in consolidated revenue to KRW 65.39, this was up 6 percent.
They also saw their operating profit increase over the previous period to KRW 9.38 trillion, more details below.
Total consolidated revenue was KRW 65.39 trillion, a 6% increase from the previous quarter and a record for the first quarter. Operating profit increased 4% from the previous three-month period to KRW 9.38 trillion as solid sales of smartphones and consumer electronics outweighed lower earnings from semiconductors and displays.
The semiconductor business saw an earnings decline quarter-on-quarter (QoQ) despite solid memory shipments, mainly due to the production disruption at the Austin fab, and a downward trend in NAND prices, while initial costs of new line ramp-up associated with advanced node migration also weighed on the results. Profit from the Display Panel Business fell quarter-on-quarter because of weak seasonality of mobile products.
You can find out more information about Samsung’s full financial results for the first quarter of 2021 at the link below.
Source Samsung
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