Samsung earnings record fueled by chips, OLEDs, and foldables

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In 2020, Samsung weathered the pandemic by posting a record high for revenue in the third quarter of 66.96 trillion won. The company just revealed that it set another record for the same period in 2021, reaching 73.98 trillion won, or about $63 billion. While its revenue was up about 10 percent, Samsung says its profits grew by 26 percent from last year to hit 15.82 trillion won ($13 billion).

Despite a shortage of key chips worldwide, the memory chips and processors Samsung makes that go into everything from servers to mobile phones are in as much demand as ever. Shifts to hybrid work mean have companies buying more SSDs, CPUs, and RAM for servers.

As the world’s largest chipmaker, high prices for memory chips mean high profits for Samsung, even if rising costs for raw materials and logistics cut into the profits of its consumer electronics division. Sales for its memory division specifically were up 46 compared to the same period last year, while profits for the semiconductor division as a whole nearly doubled, going from 5.54 trillion won to 10.06 trillion won (~$8.5 billion) [PDF].