Samsung profits soar with foldable devices
Samsung profits soar with foldable devices

Samsung said it set a new record in the third quarter of 2021 with sales of 73.9 trillion won, or $63.1 billion.

This is 10% more than the same period last year. In 2020, the company's third-quarter sales hit a record high of 66.960 billion won and battled the epidemic.

Despite increasing sales by about 10%, the company said its profits were up 26% year-over-year.

The company reported operating income of 15.82 trillion won, or $13.5 billion, up 26% from the previous quarter.

Although there are no large universal chips. The company's memory chips and processors, from servers to mobile phones, are in great demand.

The move to mixed labor also means companies are buying more hard drives, processors, and RAM for servers.

As the largest chip manufacturer in the world. The high price of memory chips means high profits for the company, even if the high costs of raw materials and logistics reduce the profits of the consumer electronics industry.

In particular, sales in the memory division increased by 46% compared to the same period the previous year.

Revenue for the entire semiconductor division nearly doubled from 5.54 trillion won to 10.06 trillion won (US$8.5 billion).

DRAM sales continue to grow, which is a major contributor to the division's exceptional performance. Samsung said that despite the scarcity of global chips, the flexible operation of its products has enabled it to do business as usual.

In addition to chip trading, the mobile segment also made a significant contribution in the third quarter.

Samsung is the largest mobile phone manufacturer in the world. The trading volume in this sector was 28.42 trillion won, or 24.2 billion US dollars.

This is due to the strong sales of foldable phones such as the Galaxy Z Flip 3 and Galaxy Z Fold 3 and the mid- and low-end Galaxy smartphones.

The chipsets also contributed to Samsung's profits

Due to the high demand for mobile phones, the company generated 8.86 trillion won, or $7.5 billion, in sales with the screens.

Display sales increased compared to the previous quarter mainly due to increased demand for small and medium-sized OLED panels. Although the demand for larger panels has decreased.

Although there are reports that Apple's iPhone 13 series is facing potential productivity issues and low production targets. Samsung said screen earnings have increased.

There is a demand for OLED screens in large devices such as laptops and tablets. Especially game consoles like the new Nintendo Switch that uses Samsung screens.

In the TV segment, the company focuses on high-end devices. He said he was preparing to produce new tapes based on quantum dots. These devices continue the battle between Samsung and LG OLED TVs.

Looking ahead, Samsung remains optimistic about the fourth quarter and next year. However, due to ongoing supply issues with components affecting various industries, the company has not provided specific guidance for the chip business.

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