Samsung reports record revenue in 2021, strong foldable sales in Q4

Samsung posted its yearly financial results, and they revealed a new revenue record for the calendar year - KRW279.6 trillion (that’s about $232 billion). That’s a massive 18% increase on a yearly basis, thanks to improved sales in all divisions across the Samsung Electronics company.

Both operating profit and revenue in Q4 2021 improved as well - sales jumped 24%, while the income grew by 53% compared to Q4 of 2020.

Samsung Electronics financial results in Q4 and FY 2021

The Korean giant revealed in a press release that growth between October and December was driven mainly by the finished product businesses, such as smartphones, including foldables Galaxy Z Fold3 and Galaxy Z Flip3, as well as TVs and home appliances.

Overall market demand for smartphones increased in the last quarter due to strong year-end seasonality, including the Christmas holidays and New Year. Revenue was also driven by Device Ecosystem products, such as tablets and wearables.

Samsung expects uncertainties related to the pandemic and component shortage to persist in 2022, but it still hopes to continue growing.

The first step in the process will be the launch of the new Galaxy S series, expected to take place online at the Samsung Unpacked event on February 9.

Source