Samsung has once again broken its sales records. The Korean phone maker has reported unprecedented figures for its annual and quarterly earnings in the fourth quarter of 2021 with operating profit of $11.5 billion and revenue of $63.6 billion in the three-month period.
For the full year, Samsung Electronics earned $42.9 billion in operating profit and $232.4 billion in revenue over the 12 months. This was a 24% increase in sales over the past year and Samsung attributes this to increased sales of its premium smartphones, TVs and appliances.
The company’s semiconductor business continued to be more profitable. It reported an astonishing 52% year-over-year increase in operating profit, despite global component shortages causing manufacturing problems for RAMs and flash storage.
For 2022, Samsung expects even better results with its upcoming flagship smartphone series, the Galaxy S22. The upcoming tablets, wearables and mainstream 5G devices will also contribute to the larger numbers.
The company’s display division is also expected to grow in 2022, partly as a result of increased demand for foldable displays. Samsung says increased demand for its quantum-dot OLED TVs should minimize recent losses in the large display business.
Samsung has confirmed its next Galaxy Unpacked event for February 9, 2022, where the tech giant will unveil its next flagship smartphone, the Galaxy S22. We’ll also get to see a handful of other devices and gadgets, but those are still under the covers.
