Samsung has released its earnings reports for the last quarter of 2021 and the overall total for the year. The company reported that its consolidated revenue was $63.7 billion in the last quarter. Operating profit for the quarter ending December 31, 2021 was $11.5 billion and net profit was $8.97 billion.
Will focus on increasing profits
While it was stated that the record revenue growth in the last quarter was due to the increase in sales of smartphones, TVs and household appliances, the company said that its operating profit fell slightly compared to the third quarter of last year, because of the special bonus payments made to the employees. However, operating profit rose compared to the last quarter of 2020, thanks to increased earnings from the semiconductor businesses.
Looking at the overall total for 2021, revenue of $232.4 billion was achieved, a record for the company, and operating profit was $42.9 billion.
Although the company stated that it experienced a high increase in revenues in general, it said that they could not see a similar effect on profit due to increased product costs.
The semiconductor businesses, one of the company’s rising revenue segments, generated $21.6 billion in consolidated revenue and $7.3 billion in operating profit in the last quarter of the year. While saying that they will pay more attention to foldable smartphones and semiconductors, Samsung stated that they will try to increase the profitability of TV and white goods businesses.
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