Samsung guidance shows strong increase in profit for Q2 2021

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Samsung has issued its quarterly earnings guidance, and the numbers for the April – June 2021 period look promising. Sales have increased 18% on a yearly basis, which isn’t a surprise given the situation last year, but the profit has jumped both on a yearly and on a sequential basis.

Q2 2021 Guidance KRW / USD Q1 2021 Results KRW / USD Q2 2020 Results KRW / USD
Sales 63 trillion / 55.4 billion 65.39 trillion / 57.5 billion 52.97 trillion / 46.6 billion
Operating Profit 12.5 trillion / 11 billion 9.38 trillion / 8.25 billion 8.15 trillion / 7.17 billion

The full earnings report is expected at the end of this month, and the company will provide details about every division. Samsung already revealed the pandemic pushed for optimizations in the marketing department which would explain the massive increase in profit.

The mobile business saw increased interest in the Galaxy S21 series, with sales in Q1 reaching a four-year high, and we’re pretty sure this has transcended into the Q2 results too.

However, Samsung is likely to take a massive hit in sales and profit after the bottleneck in chipset production that led to the cancellation of this year’s Galaxy Note smartphone, as well as the delay of the affordable flagship Galaxy S21 FE.

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