Samsung released its third quarter earnings report today, and the numbers revealed the most revenue ever recorded for this three-month period. At KRW 76.78 trillion ($ 54 billion) it is 4% more than last year.
However, the operating profit was not great. The company earned KRW 10.85 trillion ($ 7.6 billion) between July and September, 23% lower than in the second quarter and 26% lower than in the third quarter of 2021.
The Mobile Experience business recorded solid profitability, driven by good sales of foldables such as the Galaxy Z Flip4 and Galaxy Z Fold4, as well as the new Galaxy Watch5 and Galaxy Buds2 Pro series of wearables.
These phones also helped the Display division record an increase in profits, but the large panel business (TVs and monitors) actually saw its profit halved.
The outlook for the fourth quarter of 2022 is macroeconomic instability and geopolitical issues to continue. However, quarterly growth is expected due to year-end sales around the Christmas holidays. The company also plans to expand tablet sales, while wearables are expected to continue their double-digit growth.
Samsung also said it intends to “improve the S-Pen experience” for 2023, which should lead to revenue growth.
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