It is that time of the year again when the big tech firms begin posting their quarterly results. Making some noise about its Q3 2021 figures is Samsung, which set another recorded for this quarter as its revenue increased by 10 percent to $63 billion and its profits grew by 26 percent to reach $13 billion.
The South Korean outfit attributes its success to a number of factors and silos performing well, which is made all the more impressive given many of its competitors are dealing with issues like silicon shortages and supply chain struggles.
In terms of the mix that has yielded Samsung success in the most recent quarter, the company explains that sales of OLED displays, memory chips, foldable phones and affordably priced 5G devices have been the key ingredients.
“The Memory Business saw a significant improvement in earnings with record quarterly bit shipment, as well as the second-highest revenue for DRAM, and the Foundry Business’s results improved due to strong sales to global customers. For the Display Panel Business, earnings rose as major smartphone customers launched new products,” the company noted in a press release.
“The Mobile Communications Business saw a sequential improvement in earnings on the back of strong demand for new foldable models and low- to mid-range smartphones as well as growth from tablets and wearables. The Networks Business expanded its global business, including in North America and Japan, and continued to grow 5G network installations in the domestic market,” Samsung added.
It is a pity that no mention of EMEA nations, and South Africa in particular is not mentioned above, especially as it remains a key territory for the company and one where Samsung still sits atop the smartphone space.
Either way, it looks like next year the company will be banking on the same mix of portfolios to yield record quarters.
Looking specifically at the mobile side of the business, more foldable phones are on the way, along with 5G devices to appeal to a wider audience.
“In 2022, amid uncertainties over COVID-19, the smartphone and wearable markets are expected to continue growing. The Mobile Communications Business aims to reinforce its leadership in the premium segment by driving the mainstreaming of the foldable category providing innovative technology and differentiated experience such as Galaxy Z Flip3 Bespoke Edition. With these efforts, the Company will strive to achieve solid performance by strengthening mass-market 5G lineup and Device Ecosystem business,” Samsung highlights.
For those hoping that more affordable foldable options are around the corner, there might be some time to wait before that becomes a reality, but for right now, Samsung shows no signs of taking the foot of the gas when it comes to manufacturing foldables.
