Samsung posts record Q1 revenue on 'solid' Galaxy S21 sales - washingtonmants1960

Samsung today posted its earnings story for the eldest twenty-five percent of 2020. The company saw an 18.2% increase in revenue over Q1 2020 to KRW 65.4 trillion ($59 billion), while in operation profit was 45.5% higher at KRW 9.38 trillion ($8.5 billion).

Samsung says "serious sales of smartphones and consumer electronics" outweighed lower earnings from its semiconductor and display business units. The IT & Mobile Communications Division posted KRW 29.21 trillion ($26.3 billion) in revenue and KRW 4.39 trillion ($3.9 billion) in operative profit during the January to March time period.

Although boilersuit marketplace demand shrivelled compared to the previous draw, flagship smartphone sales increased thanks to the Galaxy S21 serial. Samsung's best tasteless Android phones also continuing to deal out well. Samsung has forecasted a decline in flagship smartphone sales in the second quarter, but expects strong demand for its fresh Galaxy A72 and A52 phones.

It has also confirmed plans of "strengthening its leadership in the premium section by popularizing the foldable class" and enhancing its lineup of affordable 5G phones. Recent rumors propose Samsung will be announcing the successors to endmost class's Galaxy Z Fold 2 and Extragalactic nebula Z Flip at an Unpacked event in July.

Samsung's show earnings declined compared to the previous twenty-five percent as most smartphone makers were affected past chip shortages. Thanks to the wider acceptation of OLED panels, however, earnings better year-connected-twelvemonth. The companionship's semiconductor unit division posted KRW 3.37 cardinal ($3.04 billion) in operating profit during the canton, a significant decline over Q1 2020. Samsung attributes the decline to the production dislocation at its Austin fab and an whole downwardly trend in NAND prices globally.

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