Samsung sets revenue records with stronger product sales

Photo by Vjeran Pavic / The Verge

In the fourth quarter of the year, the company broke both its quarterly and annual records for revenue and operating profit. The full-year numbers were 51.63 trillion won in operating profit and 278.6 trillion won in revenue.

The company attributes the revenue growth to increased sales of consumer products. Despite supply chain issues limiting production of RAM and flash storage, the more profitable Semiconductor business drove operating profit growth of 52 percent.

With new flagship phones, tablets, and Wearables, as well as more mainstream 5G devices, the company expects further growth in its mobile business. The display business sells foldable panels to more manufacturers and expects to see growth. Recent losses in large panels will be mitigated by the expansion of quantum-dot OLED TV panels. The world's first QD-OLED TV was announced by Sony last month.

The February 9th Unpacked event is where the much-leaked S22 will be announced. The head of the company's mobile business has said that the new phones will take on the functions of the last model of theGalaxy Note line. The global supply shortage is likely to pose challenges throughout the year, but the company expects to expand sales of flagship devices like the upcoming S and S21 FE.