Samsung has had a pretty good year. The company confirmed today that it has posted record quarterly revenue and profits in Q3 2021. Its revenue and profits are up 10% and 26% respectively compared to the same period last year. The profit is actually the second-highest ever in the history of Samsung.
A lot of that was driven by Samsung’s semiconductor division. The performance of its mobile business has been strong as well. Samsung has now laid out the steps that it will take to keep crushing it in the smartphone market.
Samsung wants to remain king of the hill
Samsung’s mobile division brought in higher revenue in Q3 2021 compared to the previous quarter. It sold more smartphones due to incredible demand for the Galaxy Z Fold 3 and Galaxy Z Flip 3. Samsung’s mid-range devices continue to do very well.
The company has also been focusing on driving more sales of its device ecosystem products. It has received a great response from customers for the Galaxy Watch 4 series and the Galaxy Buds 2. Both new wearable devices were launched in August this year.
Samsung now expects there to be more demand in Q4 2021 largely due to the holiday season. It does caution that supply issues caused by the global chip shortage might impact shipments. It will now push to sell more premium devices in Q4 2021. The Galaxy Z Flip 3 Bespoke Edition has been launched with this very purpose in mind.
In addition to pushing its Galaxy S series, Samsung will also increase its focus on the mass-market segment with affordable 5G smartphones to target replacement demand. It will also strive to sell more wearable devices and tablets.
For the coming year, Samsung is committed to mainstreaming foldable smartphones. It’s also going to bring 5G to more affordable smartphones in order to increase adoption and achieve solid performance.