Samsung’s latest financial results are dizzying

Samsung’s latest financial results are dizzying

Samsung announces its results for the first quarter of 2022 and can be smiling. Thanks to the sales of Galaxy S22 and its semiconductor activity, the giant is breaking records.

The economic context is not likely to disturb Samsung, which has just announced excellent financial results. The South Korean giant spilled the beans earlier this month, promising an excellent quarter. This scenario is confirmed with a record quarterly turnover of 58.13 billion euros (77,780 billion won); up 19% year-on-year. This is the third consecutive quarter of growth for the South Korean giant.

Operating profit was 10.55 billion euros (14.120 billion won) for the first three months of the year, an increase of 51% compared to last year. Impressive results for the firm which nevertheless encounters difficulties in the supply chains. All lights are green for Samsung and all divisions are progressing.

Smartphones, chips, TV… all the lights are green

As the CNET site indicates, Samsung sells more phones and TVs than anyone else in the world. The group also confirms the “solid sales of its Galaxy S22 series and a “sales increase” of its more affordable 5G models (Galaxy A). As a reminder, the Galaxy S22 range was unveiled at the beginning of February and has been favorably received thanks to the novelties brought by the manufacturer (read our test of the Samsung Galaxy S22 Ultra). However, the disappointing performance of the Exynos 2200 chip and the controversy surrounding the restriction of application performance accompanied the release of this new range. Despite the “geopolitical uncertainties” and the economic environment, the company expects the segment to continue to grow ” in a significative way “.

In addition to smartphones, Samsung sells a lot of memory chips. This activity has been boosted in recent months and the company says it exceeded its first quarter guidance. This is explained by a “memory price” [qui] fell less than expected thanks to strong demand coming mainly from services and PCs”. A slight decline in profits is however to be noted. We observe that demand remains “solid” for DRAM and NAND memory.

Samsung also mentions adopting “growing” OLED screens in laptops and gaming devices. For large screens, the firm welcomes the favorable reception given to QD-OLED technology. However, the war in Ukraine limits the progression of the TV segment.

Finally, the strength of the US dollar against the South Korean won compensates for the weakness » other currencies.

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