Samsung reports record-breaking Q2 driven by skyrocketing Galaxy S22 sales
Samsung posted its quarterly financial reports, and the numbers for the April-June 2022 period look impressive. The Korean company revealed its revenue was KRW77.2 trillion ($59.2 billion), which is 21% more than it was for the same period of 2021. Operating profit was KRW14.1 trillion ($10.8 billion), which is 12% more YoY.
Looking at sales in different segments, half of the increased sales came from the Mobile eXperience (MX) division where premium products (namely the Galaxy S22 series) were a lot more desired, compared with the predecessors in 2021.
The strength of the US dollar against the Korean won benefited Samsung’s component trade, raking in an extra KRW1.3 trillion (almost $1 billion) in profit.
However, macroeconomic uncertainties are expected to persist and the DS Division (Device Solutions, which includes memory chips, semiconductors, and foundry processes) will focus on high-value-added portfolio products, including expanding current nodes and new applications.
The mobile business in particular is having big expectations about its new foldables that will arrive on August 10. Expectations are sales to surpass that of the Galaxy Note series, locking the door and throwing the key on the hopes of seeing a Note smartphone in the future.
