A few days ago, Samsung had revealed its earnings estimates for the fourth quarter of 2021. Earlier today, the company published its final earnings report. Thanks to solid semiconductor chip sales and slightly higher smartphone sales, the South Korean firm's operating profit reached a four-year Q4 high.
Samsung Electronics‘ Q4 2021 revenue reached KRW 76.57 trillion (around $63.64 billion), while the operating profit was KRW 13.87 trillion (around $11.52 billion). The company reported a net profit of KRW 10.8 trillion (around $8.97 billion) for the fourth quarter. Samsung's revenue was 24% higher than Q4 2020, but operating profit declined slightly compared to Q3 2021 due to special bonuses paid to employees.
For the full year, the company's revenue reached a historic high of KRW 279.6 trillion (around $232.43 billion), and the operating profit was KRW 51.63 billion (around $42.92 billion).
The company said in its press release that its record-high numbers were was driven mainly by strong semiconductor chip sales, premium smartphones like foldables, and ecosystem accessories. Samsung's premium home appliance and TV sales also increased during Q4 2021. The company's memory business saw slightly lower revenue than expectations due to various factors. However, the foundry business posted record quarterly revenue.
Samsung Display's revenue increased for small-sized OLED panels, but losses widened in the large-sized display segment due to declining LCD prices and higher manufacturing costs for QD-OLED panels. The company said that its mobile OLED panel business could see a huge boost, thanks to increased demand for foldable OLED panels.
The South Korean firm said it would start the mass production of first-generation 3nm GAA semiconductor chips this year. Samsung Foundry will continue to manufacture flagship chips for its key clients. The company will also look to improve the profitability of its TV and home appliances businesses. Samsung Networks, the company's cellular network business arm, will try to gain more 4G and 5G network expansions across the world.
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