Daily Management Review

Samsung's net profit 2021 grows by 1.5 times


South Korean electronics maker Samsung Electronics' net profit attributable to shareholders rose by half last year in annual terms to 39.244 trillion won (about $32.7 billion), the company said.

Pierre Lecourt
Pierre Lecourt
Revenue for the period rose 18 percent to a record 279.605 trillion won ($233.4 billion), while operating profit was 51.634 trillion won ($43 billion), up 43 percent from a year earlier.

The company's fourth-quarter net profit rose 1.6 times to 10.643 trillion won ($9 billion) and revenue rose 24% to a record 76.566 trillion won ($64 billion). Operating profit reached 13.867 trillion won ($11.6 billion), up 1.5 times from a year ago.

The revenue growth in the quarter was mainly due to results in finished goods and higher sales of high-end smartphones as well as TVs and home appliances, the release said. Including the operating profit of the company's mobile business for the quarter rose 10% year-on-year to 2.66 trillion won ($2.2 billion). Sales in the mobile division rose 30% year-on-year to 28.95 trillion won ($24.2 billion).

The company expects market uncertainty to persist in the start of the year. The company's shares are now down 2.2%.

source: reuters.com