Categories: Tech

Samsung announces record profits for the second quarter of 2022

Samsung announced record profits in the second quarter of 2022, with revenues equal to 77.2 trillion South Korean won (58.4 billion euros) until June 30 June. Operating profits amounted to 14.1 trillion won (about 10 billion euros), an increase of 12% over the previous year. A growth driven above all by sale of components, also helped by the won-dollar exchange rate.

Samsung announces record profits for the second quarter of 2022

The Solutions Division for Devices recorded a historically positive quarter, repeating the first quarter of this year. Also there Device Experience Division grows compared to last year. But there are also record gains for components.

Memory unit sales are improving from last year and the first quarter, with the company producing a lot to meet the growing market demand. The semiconductor market (both the sale of LSI systems and the foundry) hit quarterly absolute records, thanks to the very high worldwide demand. Revenues come in share 28.5 trillion won (21.6 billion euros) and operating earnings at 9.98 trillion won (7.5 billion euros), an all-time high.

Record also for the sale of displays, especially for mobile devices (such as smartphones and tablets). THE rising operating costs for technology Quantum Dot however, operating earnings for large panels are slowing.

Income for the mobile sector is also growing, but earnings are declining, also due to the increase in costs for materials and logistics management. However, the vsales of premium models they improved the situation.

Samsung further explains that the strength of the dollar against the South Korean won pushed sales towards American brands, for estimated revenues of around 1.3 trillion won (984 million) more than last quarter.

The premium segment of smartphones and TVs gives a lot of satisfaction to Samsungbut the current growth is the result of the work of the Foundry and the sale of components, which drives the entire group. Read more here.

Published by
Walker Ronnie

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