Samsung has announced its financial results for quarter 2 and the company has seen an increase of 20 percent over the previous year.Samsung did see a slight decline in some of their divisions like the mobile business,
The total revenue for the quarter was KRW 73.7 trillion and they also saw an operating profit increase of34 percent over the previous year to KRW 12.57 trillion.
The Semiconductor business saw a significant improvement in earnings as memory shipments exceeded previous guidance and price increases were higher than expected, while the Company strengthened its cost competitiveness. For the Display Panel Business, a one-off gain and an increase in overall prices boosted profits.
Earnings at the Mobile Communications Business declined from the previous quarter due to component supply shortages and COVID-19 related production disruptions. But the business posted solid profitability as the Company leveraged its global SCM capabilities, improved the cost structure and as contributions from tablets and wearables continued.
The Consumer Electronics Division posted strong results driven by increased sales of premium products as demand remained strong.
You can see the full quarter 2 financial results for Samsung over at their website at the link below, it will be interesting to see how the perform in their next financial quarter.