Samsung Hits New Profit Records for 2021, Despite Chip Crisis

Samsung, the South Korean electronics giant, revealed a new record in its 2021 fourth quarter (Q4), marking an annual operating profit of $42.9 billion and $232.4 billion in revenue.

Compared to its third-quarter (Q3) revenue, Samsung hit a whopping $11.5 billion in operating profit and $63.6 billion in revenues. The heightened capital for the electronics giant could be attributed to the 24 percent Year-on-Year (YoY) growth in revenue driven mainly by the heightened sales of consumer goods, such as its latest generations of premium smartphones, televisions, and a variety of different units.

Despite the global chip shortage crisis taking the industry by a swift, the titan’s semiconductor business was the primary derivative of its 2021 Q4 operating profit growth, marking a 52 percent YoY.

As it enters 2022, Samsung Electronics is anticipating a much higher growth margin in certain areas in its business, including the release of new mobiles with flagship phones, tablets, and wearable devices, in addition to other varieties of mainstream 5G devices.

In parallel, the company is also hoping to develop a much more comprehensive growth by marketing and selling foldable panels to more manufacturers. This was clearly demonstrated in its latest ventures into quantum-dot OLED TV panels – which will alleviate the company’s latest loss in large panels.

Last month, the South Korean mogul announced the release of the world’s first QD-OLED TV using Samsung panel.

“QD-OLED screens differ from the traditional OLED panes that have long been manufactured by LG Display in the way they produce an image,” according to The Verge.

“QD-OLED changes this up by emitting blue light through quantum dots to convert some of that blue into red and green without any need for the color filter. This leads to greater light energy efficiency; since you’re not losing any light to the color filters, QD-OLED TVs should offer brightness gains compared to past-generations OLED,” the news hub added.

Earlier this week, Samsung verified the date for its Unpacked event. On February 9th, the giant will unveil its Galaxy S22 smartphones series. The head of the giant’s mobile business, TM Roh, teased that the latest series will have similar functionalities to the Galaxy Note line.