Samsung announced its financial results for the first quarter of the year and the company proudly revealed record consolidated revenue for the third consecutive quarter.
Operating profit was KRW 14.12 billion and improved 51% from the previous year (KRW 9.38 trillion), with the Device Experience (DX) division having the highest turnover since 2013 .
According to the detailed financial report, literally all divisions experienced an annual increase in both sales and operating profit. Speaking of the mobile phone business, Samsung revealed that the numbers are a result of strong sales of the flagship Galaxy S22 Ultra, as well as “positive responses to new 5G mass market models” and “solid sales of Device Ecosystem products. “which include tablets, smartwatches and wearable audio devices.
The memory business hit record sales amid strong demand. The same happened to the Samsung Display division, where the results were driven by strong sales at major smartphone manufacturers, as well as large displays for QD panels. TVs are part of the Visual Display Business and the numbers have been driven by demand for Neo QLED and Super Big TV.
The strength of the US dollar against the Korean won outweighed the weakness of some currencies, resulting in an operating profit of KRW 300 billion, compared to the previous quarter.
Samsung is wary of macroeconomic and geopolitical uncertainties, including the continuing COVID pandemic, as well as ongoing logistical problems. Looking at its second quarter results and second quarter plans, the Korean company will prioritize strengthening its position in the premium smartphone segment and expanding its SoC chip manufacturing.
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