Samsung to expect highest ever quarterly revenue in third quarter. The Korean own electronics company on Thursday announced that it is expecting its operating profits to come in at 12.25 trillion ($13.2 billion) in the third quarter.
Samsung to Expect Highest Ever Quarterly Revenue in Third Quarter
If this is true as the company claims, this will be an increase of nearly 28% compared with the same period last year. The company Samsung is known for its smartphones, but the company now seems to be getting a huge boost from its component business. It now seems the company’s rebound from the slowdown in the industry amid the pandemic and all appears to be gaining steam.
The company also pegged its revenue for the three-month period that ended September 30th at about 73 trillion won ($61.2 billion). This could be the company’s highest-ever quarterly revenue gain besting its quarterly result from last year.
The Cause of The Revenue Bump
Samsung did not comment on anything regarding the bump in its revenue although the company may have received a boost in demand for its chip s more people were forced to work remotely from their homes due to the pandemic. The company also is expected to report the final results of its revenue later this month.
When it comes to phones and TVs, the company sells more than any other manufacturer in the business. The company also has a huge business when it comes to selling off chips to device makers all over the globe. The chip business of Samsung has received huge boos from data centers all over the globe that rely solely on technology to store everything that is being done online in recent months.
Boosted by the adoption of 5G, Samsung says that it expects the mobile market to start to return to pre-COVID 19 levels in the second half of the year in July.
What Is Samsung Biggest Source of Revenue
As of the second quarter of 2021, the electronic semiconductor segment of Samsung was the company’s biggest revenue generator. It brought in approximately 19.26 billion US dollars. Other important segments of the company are the mobile communications and display panel business. All these contributed greatly to the total revenue of the company.
How Much Profit Does Samsung Make in a Year
The company made about 236.81 trillion in revenue and 35.99 trillion in its operating profit. Although there were challenges from the pandemic, the company’s efforts in ensuring a stable supply of services and products all over the world helped the company’s fourth-quarter results in the last year.
Why Is Samsung Sales Rising?
One may wonder why the company’s revenue continues to rise despite continued struggles with the pandemic and everything. With the pandemic, most businesses and entrepreneurs started working remotely from home.
This made the demand for devices powered by Samsung’s chips as well as home appliances such as washing machines and TVs. A senior researcher at Euromonitor international James Kang in a statement said “pent-up demand has led the growth in home appliances.”