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.