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Samsung expecting highest-ever quarterly revenue in Q3 2021

Business
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Last updated: October 8th, 2021 at 06:36 UTC+01:00

Samsung has revealed its earnings guidance for the third quarter of this year. According to the electronics giant, its quarterly revenue could hit KRW 73 trillion (around $61.2 billion), and the operating profit could be around KRW 15.8 trillion (around $13.23 billion). This is the South Korean firm’s highest-ever quarterly revenue, thanks to robust chip sales.

The company’s operating profit for Q3 2021 is 28% higher compared to Q3 2020. Meanwhile, its revenue for the quarter that ended on September 30 is higher than the numbers from Q3 2020 as well. While the company did not reveal the actual reason for an increase in revenue, analysts say that Samsung received a huge revenue boost from higher chip sales and higher semiconductor prices.

After the COVID-19 pandemic, work-from-home and e-learning adoption increased rapidly, leading to higher sales of semiconductor chips for cloud servers, data centers, and consumer electronics (tablets and computers). Even sales of gaming consoles, graphics cards, and TVs saw a massive rise since last year, directly improving Samsung’s revenue.

Samsung will report the final numbers for Q3 2021 at the end of this month. The company had mentioned a few months ago that it expects smartphone sales to return to pre-pandemic levels, but it has been facing many supply chain issues, leading to canceled or delayed launches and lower sales.

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Business EarningsSamsung ElectronicsSamsung FoundrySamsung Semiconductor
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