Join us on Telegram | Early Samsung Black Friday deals, check them out right now!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission. Learn more.

Samsung posts record quarterly revenue in Q3 2021, thanks to chips, foldables, and OLED displays


Last updated: October 28th, 2021 at 08:47 UTC+01:00

Earlier this month, Samsung had announced that it is expecting the highest-ever quarterly revenue during Q3 2021. Today, the company revealed its final financial numbers for the quarter. It reported the highest-ever quarterly revenue and the highest operating profit over the past three years, thanks to robust sales of semiconductor chips and foldable phones.

Samsung’s Q3 2021 (ending September) revenue was KRW 73.9 trillion (around $63 billion), a 10% improvement over Q3 2020. The South Korean firm’s operating profit was KRW 15.8 trillion (around $13.4 billion), a 26% jump compared to the same quarter last year. The company’s operating profit in Q3 2021 turned out to be its highest over the past three years and the second-highest in Samsung’s history.

Strong semiconductor chips sales helped Samsung the most

The South Korean tech giant said that its semiconductor chip business did well during the quarter, thanks to a boost from cloud servers and data centers. Ever since the COVID-19 pandemic began, people have been working, collaborating, and learning remotely, and those technologies rely on servers, which use memory and storage chips. Samsung is the world’s biggest memory chip manufacturer.

According to the company, its semiconductor business reported sales of KRW 26.4 trillion ($22.5 billion) during the third quarter, a 16% increase over Q3 2020. The company even benefited from the increasing sales of PCs and laptops used for hybrid work and gaming. Remember, the company is a contract manufacturer for Nvidia’s GPU chips.

Sales of OLED panels for iPhone 13, Nintendo Switch, and other smartphones improved profits

The company’s display manufacturing arm, Samsung Display, also did great, especially in the mobile segment. During Q3 2021, it reported sales of KRW 8.86 trillion (around $7.56 billion), a rise of 21% compared to the same quarter in 2020. Recently launched hit devices like the iPhone 13 and Nintendo Switch OLED use OLED panels from Samsung. Its large-display business suffered, though, due to declining LCD panel prices.

Samsung will soon launch Quantum Dot TVs to compete with LG’s OLED TVs

Samsung’s Visual Display Business, which makes TVs, monitors, and signage displays, started focusing on high-end products. The company said that it will soon launch Quantum Dot-based TVs to compete with LG’s OLED TVs. Despite strong sales of the Bespoke lineup of home appliances, the South Korean firm said that profits have lowered due to the increased cost of materials.

Samsung expects smartphones sales to improve in Q4 2021, but chip crunch could trouble the company

Coming to smartphones, Samsung said that its smartphone business declined 8% to KRW 27.34 trillion (around $23.33 billion) despite solid sales of foldable devices like the Galaxy Z Flip 3 and the Galaxy Z Fold 3. However, the company expects strong sales in Q4 2021 due to intense holiday shopping in November and December. There might be a few problems related to the ongoing chip shortage.

The company’s network business, Samsung Networks, improved. Its client list expanded in Japan and North America, and the company is trying to expand its business in Europe and Southwest Asia. Samsung Networks had recently unveiled new 5G network infrastructure equipment.

Business EarningsSamsung DisplaySamsung ElectronicsSamsung FoundrySamsung NetworksSamsung SemiconductorSystem LSI
Load 1 comments

You might also like

Samsung working with American firm to improve semiconductor chip manufacturing yield

Samsung has struggled over the past few years with chip manufacturing. Its technology hasn’t been as good as TSMC’s. The Snapdragon 888 and the Snapdragon 8 Gen 1, which Samsung Foundry made, had overheating issues. As a result, the company lost the contract to manufacture Snapdragon 8+ Gen 1, Snapdragon 8 Gen 2, and Nvidia […]

  • By Asif Iqbal Shaik
  • 14 hours ago

Wild rumor claims Samsung’s Exynos 2300 has a special core for One UI optimization

It has been widely reported that Samsung has ditched the Exynos 2300 in favor of the Snapdragon 8 Gen 2 for the Galaxy S23. However, there has been no official word from either Samsung or Qualcomm about the Snapdragon’s exclusivity. Some reports also claim that the Galaxy S23 will use a higher-clocked version of the […]

  • By Asif Iqbal Shaik
  • 17 hours ago

Samsung Gaming Hub is the best thing that ever happened to cloud gaming

If someone were to tell me a year ago that Samsung is the answer to cloud gaming, I would’ve probably laughed or looked bewildered thinking of that notion. I also would’ve been wrong to doubt that hypothesis. Because here we are in 2022, with Samsung arguably becoming one of the most valuable partners for cloud […]

  • By Mihai Matei
  • 1 day ago

Q3 smartphone shipments to Europe declined but Samsung kept the lead

Demand for smartphones in Europe appears to be declining, but Samsung maintained the lead in Q3 2022 despite considerable losses. The European smartphone market shrunk by 16% year-on-year, with market watchers saying that shipments were just a little over 40 million units due to economic challenges. Xiaomi capitalized on the Russian market to rise to […]

  • By Mihai Matei
  • 1 day ago

Future Qualcomm flagship chips could be made by Samsung

The Snapdragon 888 and the Snapdragon 8 Gen 1 were made by Samsung Foundry, and both chips faced overheating and performance throttling issues. Due to this issue, Qualcomm awarded the production of the Snapdragon 8+ Gen 1 and the Snapdragon 8 Gen 2 to TSMC. However, Qualcomm could come back to Samsung in the future. […]

  • By Asif Iqbal Shaik
  • 2 days ago

Pixel Fold displays from Samsung to have less in common with Z Fold 4

If you missed out on the first Google Pixel Fold leak from yesterday, you might want to check it out. Google’s first foldable phone got unveiled in a handful of leaked official renders, and a few specifications, along with pricing and availability details, have also emerged. Samsung Display will play a part in making the […]

  • By Mihai Matei
  • 3 days ago