Samsung has broken its revenue records once again. The Korean phone maker has reported unprecedented numbers for its annual and quarterly income in the fourth quarter of 2021 with $11.5 billion operating profit and $63.6 billion revenue in the three-month period.
As for the full year, Samsung Electronics earned $42.9 billion in operating profit and $232.4 billion in revenue over the course of 12 months. This was a 24% increase in revenue over the last year and Samsung credits it to increased sales of its premium smartphones, TVs, and appliances.
The company’s semiconductor business proved to be more profitable once again. It reported an astonishing 52% year-on-year increase in operating profit despite the global component shortage causing production issues for RAMs and flash storage.
For 2022, Samsung expects even better results with its upcoming flagship smartphone series, the Galaxy S22. Its upcoming tablets, wearables, and mainstream 5G devices will also contribute to the increased numbers.
The company’s display-making wing is also expected to grow in 2022, partly due to an increased demand for foldable displays. Samsung says that increased demand for its quantum-dot OLED TVs should be able to minimize its recent losses in the large display business.
Samsung has confirmed its next Galaxy Unpacked event for February 9th, 2022 where the tech giant will unveil its next flagship smartphone, the Galaxy S22. We will also get to see a handful of other devices and gadgets, but they are still under the covers.