Samsung Electronics broke both its quarterly and annual sales records in the fourth quarter of 2021, with operating profit of 13.87 trillion won (~$11.5 billion) against revenue of 76.57 trillion won (~63.6 billion). dollars) in the three-month period. The full year figures were 51.63 trillion won ($42.9 billion) in operating profit and 279.6 trillion won (~$232.4 billion) in revenue.
Samsung attributes the 24 percent year-over-year revenue growth to increased sales of consumer products such as premium smartphones, TVs and appliances. The more profitable semiconductor business delivered a 52 percent year-over-year operating profit growth, despite supply chain issues limiting RAM and flash storage production.
Looking to 2022, Samsung expects further growth in its mobile business with new flagship phones, tablets and wearables, as well as more mainstream 5G devices. The display business also expects growth, driven in part by the sale of foldable panels to more manufacturers. Samsung says its recent expansion to quantum dot OLED TV panels will mitigate some of its recent losses in large panels. Sony announced the world’s first QD-OLED TV last month, which uses a Samsung panel.
This week, Samsung confirmed a February 9 Unpacked event where it will be announcing the widely leaked Galaxy S22 smartphone series. TM Roh, head of the company’s mobile business, has hinted that the new phones will inherit functionality from the Galaxy Note line, which may have seen its last model. Samsung says the COVID pandemic and global supply shortage will likely pose challenges in 2022, but expects to expand sales of flagship devices such as the upcoming Galaxy S and the recently released Galaxy S21 FE.