Samsung released its annual financial results and posted a new revenue record for the calendar year – 279.6 trillion won ($232 billion). Sales rose sharply by 18% annually, thanks to higher sales across all divisions of Samsung Electronics.
Operating profit and revenue improved in the fourth quarter of 2021 compared to the fourth quarter of 2020 – sales were up 24%, while revenue was up 53%.
Samsung Electronics’ Financial Results for the Fourth Quarter and Fiscal Year 2021
In a press release, the South Korean giant revealed that growth in the October-December period was mainly driven by finished products, such as smartphones, including the foldable phones Galaxy Z Fold3 and Galaxy Z Flip3, as well as TVs and home appliances.
Overall market demand for smartphones increased in the last quarter due to strong year-end seasonality including Christmas and New Years. Revenue was also driven by device ecosystem products, such as tablets and wearables.
Samsung expects uncertainty related to the pandemic and parts shortages to persist in 2022, but still hopes to keep growing.
The first step in the process will be the launch of the new Galaxy S series, which is expected to take place online at Samsung’s Unpacked event on February 9.