Samsung’s Q4 2021 profit to jump 52.5% due to robust chip, smartphone sales
Earlier today, Samsung announced its earnings estimates for the fourth quarter of 2021. The South Korean firm said it expects consolidated sales of KRW 76 trillion (around $63.2 billion) and an operating profit of KRW 13.8 trillion (around $11.4 billion). The company will announce the final numbers for Q4 2021 later this month.
Compared to the year earlier, the company’s sales are expected to be 23.5% higher, and the operating profit will likely be 52.5% higher. Moreover, its sales figures are the highest ever in its history. Compared to Q3 2021, Samsung’s operating profit has reduced by 12.8%. According to analysts, the company’s semiconductor chip and smartphone business is doing well.
During the whole year of 2021, Samsung’s sales crossed all records and reached KRW 279 trillion (around $232 billion). Its operating profit for the entire year is likely to stand at KRW 51.6 trillion (around $42 billion), which is 43.3% higher than 2020 and the third-highest operating profit in its history. However, the South Korean firm still missed operating profit expectations (KRW 15.2 trillion) from analysts.
Due to the work-from-home trend and rising cloud infrastructure demand, Samsung’s memory chip (DRAM and NAND) sales have increased dramatically over the past couple of years. The chip shortage eased slightly last quarter, which helped achieve higher smartphone sales. Samsung Display also saw higher business, but investment in the QD-OLED panel production has likely weighed down the overall performance.
Samsung will unveil final numbers and a detailed breakdown of its various business before the end of this month. The company showcased its new products, including new MicroLED TVs, QLED TVs, Neo QLED TVs, and Bespoke home appliances lineup at CES 2022. Samsung is expected to announce the Galaxy S22 series sometime next month.
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