Samsung survived the pandemic in 2020 by setting a new record for revenue at 66.96 trillion won in the third quarter. Samsung just announced that it has set a new record in the same period for 2021 with revenue of 73.98 trillion won (or $63 billion). Samsung claims that its revenue increased by about 10%, but its profits rose 26 percent to 15.82 trillion won ($13 million) last year.
The memory chips and processors Samsung makes for mobile phones, servers, and other devices is in high demand despite a global shortage. Companies are buying more SSDs and CPUs for hybrid work.
Samsung will reorganize its organization to concentrate on quantum dot TVs and not LCDs
Samsung is the world's largest chipmaker. This means that high prices for memory chips translate into high profits, even though rising raw material and logistics costs have impacted the profits of the consumer electronics division. The sales for its memory division were up 46 percent compared to last year. However, profits for the entire semiconductor division nearly doubled (from 5.54 trillion won to 10.06 billion won ($8.5 million) (pdf).
Samsung is the world's largest phone manufacturer and claims that it saw strong demand from foldables like the Galaxy Z Flip 3 or Galaxy Z Fold 3 as well as the low- and mid-range Galaxy smartphones.
Despite reports about production problems and reduced manufacturing targets for Apple's iPhone 13 line, Samsung claims that its mobile OLED display earnings increased due to demand from customers who purchased new products. Apple will report its quarterly earnings tomorrow.
Samsung is expecting solid earnings in the fourth quarter for its mobile displays, and this is not just due to smartphones. OLED is in high demand in larger devices such as tablets and laptops.
The company's TV business is focused on the top-end. It says it is on track for new, quantum dot-based sets to continue Samsungs battle against OLED TVs by LG.
