UPDATED. 2024-07-12 07:53 (금)
Samsung records 54% higher profit in Q2
Samsung records 54% higher profit in Q2
  • Jang Keyoung Yoon
  • 승인 2021.07.29 14:19
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Recovery of memory market boosts earnings 
Image: TheElec
Image: TheElec

Samsung Electronics recorded 63.67 trillion won in revenue during the second quarter, its highest to date for the quarter.

Memory semiconductors led the growth while TV and appliances are posted strong earnings.

However, its mobile business recorded lackluster earnings.

Samsung said on Thursday that it has recorded 63.67 trillion won in revenue and 12.56 trillion won in operating profit during the second quarter.

Revenue jumped 20.2% from a year ago, while operating profit surged 54.3% over the same time period.

It saw smartphone sales slowdown in the quarter due to the component shortage in the industry and weak seasonality, Samsung said.

But is saw high demand for memory in the server market while it also sold premium appliances at a high rate, the South Korean tech conglomerate said.

Its operating income for the quarter was the highest since the third quarter of 2018. Its operating margin rate was 19.7% during the quarter.

Samsung’s semiconductor business recorded 22.74 trillion won in revenue and 6.93 trillion won in operating profit.

Memory shipment exceeded its guidance and the company saw average sales price increase more than expected, the company said.

Its system semiconductor and foundry businesses also saw increased profitability thanks to normalization of its fab in Austin, Samsung said.

Its display business unit posted 1.28 trillion won in operating profit thanks to a one-time gain and increase in panel prices.

The company’s mobile business posted 3.24 trillion won in operating profit. Production problems caused by the pandemic and the component shortage lowered smartphone sales compared to the previous quarter. Samsung said it controlled cost and utilized efficiency supply chain management to maintain profitability for the business.

Samsung’s consumer electronics contributed 1.06 trillion won in operating profit. The company said it saw high sales of premium products thanks to pent-up demand.

In CAPEX, the company spent 13.6 trillion won during the quarter __ 12.5 trillion won were spent on its semiconductor business.

Samsung said it expects its component business to perform strongly during the remainder of the year.

It will accelerate the shift to 15-nanometer DRAM and Gen 6 V-NAND, the company said. It will also expand the application of extreme ultraviolet process on DRAM to maintain its leadership going forward, Samsung said.

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