Samsung posted record high revenues from its mobile and processor businesses
The third quarter of 2021 was a record year for Samsung, with revenues of $63.1 billion. This is a 10% increase over the same period last year. The company also reported an operating profit of $13.5 billion, up 26% from the previous quarter.
Despite the pandemic, the technology giant's semiconductor business posted revenues of $22.6 billion driven by strong demand for computers due to the widespread shift to telecommuting. DRAM sales, mainly for servers, continue to grow and are leading the division's performance. Samsung says that despite a global shortage of chip components, it has been able to run its business as usual by "flexibly managing its product portfolio".
In addition to its chip business, Samsung's mobile division also made a notable contribution to its record third quarter. Its revenues totaled $24.2 billion thanks to strong sales of its lineup of mass-market devices and flagship models. The latter include the new foldable devices, the Galaxy Z Fold 3 and Galaxy Z Flip 3, although the company acknowledged that heavy marketing investment in foldable devices has impacted the division's overall profits.
It was the strong demand for phones that helped Samsung's display business generate $7.5 billion in revenue. Display revenues were up from the previous quarter mainly due to higher demand for small and medium-sized OLED panels, despite frankly weak demand for large panels.
Source: samsung
