Today, January 27, South Korean Samsung Electronics announced its results for the fourth quarter and all of 2021. For the quarter, operating profit rose 53% to 13.9 trillion won ($11.6 billion), while revenue rose 24% to 76.5 trillion won ($63.6 billion). For the year, revenue increased by 18% to 279.6 trillion won ($232.4 billion), operating profit – by 43% to 51.6 trillion won ($42.9 billion).
Samsung notes that the strong performance was achieved largely due to the growth in sales of semiconductors – by 43% compared to the fourth quarter of 2020, as well as smartphones and tablets – by 24%. The company warned that supply disruptions are affecting its business, but it expects strong demand for its semiconductors and consumer electronics to continue. In addition, the company announced plans to expand the range of more affordable smartphones that support 5G networks.