Samsung had a very profitable quarter. (Source: Samsung)
Samsung has announced total revenues and operating profits that ran well into trillions of South Korean won (KRW, or billions of US dollars) for the third quarter of 2021 (3Q2021). The company attributes this success to its silicon production, as well as to the sale of devices such as the Galaxy Z Fold3 and Flip3.
Samsung has announced its 3Q2021 financial results, which indicate healthy year-on-year (YoY) growth and sales in various areas of the South Korean giant’s business. In fact, the consumer electronics giant now asserts that its revenues were the highest ever for any third quarter, whereas its operating profits were the second highest for the same.
They came in at 74 trillion and 16 trillion KRW (~US$63 billion and $14 billion) respectively. Samsung’s revenues grew by 10% YoY, while its profits went up by 26% quarter-on-quarter (QoQ).
This, more than slightly unsurprisingly, was related to sales made by the OEM’s Semiconductor arm, while its Memory division had “a significant improvement in earnings”, with shipments that apparently, again, broke third-quarter records.
Samsung’s Display and Mobile Communications divisions also had strong earnings in 3Q2021, mainly thanks to the release of the OEM’s new foldable flagship the Galaxy Z Fold3, not to mention its new clamshell counterpart the Z Flip3.
Samsung has now also stated it intends to try and overcome the prevailing supply crisis in order to address its current backlog of silicon orders as it moves into 4Q2021. Currently, they are seen to affect its datacenter and memory products, which face particularly strong demand and component shortages respectively.
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