Samsung Reports 20% Revenue and 54% Profit Growth in Q2 2021

The Korean manufacturer continues to be the leader in the smartphone market and has managed to expand its position in

new market segments in the first half of 2021.Samsung's diverse portfolio of smartphones, TVs, smartwatches, and audio accessories provides business model flexibility that very few companies can boast of.

Financial results of the last quarterconfirm the strong position of the Korean giant. Official figures show that Samsung reported consolidated revenues of $ 55.5 billion. Operating income for the second quarter reached $ 10.97 billion.

Thus, Samsung managed to increase its revenueby 20% and increase operating profit by 54% over the same period in 2020. The Semiconductor Division reports the best performance. The high cost of DRAM / NAND memory and growing demand are also driving Samsung's Q2 2021 financials.

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Mobile division of the Korean giantsuffers from a shortage of parts and problems with production lines in Vietnam. That is why in April-June 2021, the revenue of the mobile division reached $ 2.82 billion. At the same time, the semiconductor division generated $ 6.04 billion in operating profit.

Mobile business sales growth is 9%compared to 2022, but they are 22% lower compared to the previous quarter. The division's profit is 66% higher than in the second quarter, but reports a 26% decrease compared to the first quarter of 2021.

The company received a one-time payment of$ 1.11 billion in the second quarter, which is likely Apple's penalty for outstanding OLED contract orders. In just a few days, a big event will take place where we will see flexible smartphones of the Galaxy Z series and new smartwatches from Samsung.

Source: sammobile


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