Samsung has announced its Q3 financial results for 2021, the company announced a new quarterly record of KRW 73.98 trillion which is up 10% on the previous year.
They also saw an increase in their operating profit of 26% over the previous quarter to KRW 18.82 trillion, which is impressive
Total consolidated revenue was a quarterly record of KRW 73.98 trillion, a 10% increase from a year earlier, which was the previous high. Operating profit increased 26% from the previous quarter to KRW 15.82 trillion, the second-highest ever, as favorable market conditions continued in the memory market while the foundry and display businesses achieved robust sales. The finished product businesses also posted solid performances.
The Memory Business saw a significant improvement in earnings with record quarterly bit shipment, as well as the second-highest revenue for DRAM, and the Foundry Business’s results improved due to strong sales to global customers. For the Display Panel Business, earnings rose as major smartphone customers launched new products.
The Mobile Communications Business saw a sequential improvement in earnings on the back of strong demand for new foldable models and low- to mid-range smartphones as well as growth from tablets and wearables. The Networks Business expanded its global business, including in North America and Japan, and continued to grow 5G network installations in the domestic market.
You can see full details on the Samsung Q3 financial results over at Samsung’s website at the link below.
Source Samsung
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