Samsung reports record-breaking Q2 driven by skyrocketing Galaxy S22 sales

Samsung
Tamsin Rodriguez28 July 2022Last Update : 2 weeks ago
Samsung reports record-breaking Q2 driven by skyrocketing Galaxy S22 sales

Samsung published its quarterly financial reports, and the figures for the April-June 2022 period look impressive. The Korean company revealed that its revenue was KRW77.2 trillion ($59.2 billion), which is 21% more than it was in the same period of 2021. Operating profit was KRW14.1 trillion ($10.8 billion), which is 12% more YoY.

Looking at sales in different segments, half of the increased sales came from the Mobile eXperience (MX) division, where premium products (namely the Galaxy S22 series) were much more desired compared to their predecessors in 2021.

The strength of the US dollar against the Korean won benefited Samsung’s component business, bringing in an additional KRW1.3 trillion (nearly $1 billion) in profit.

However, macroeconomic uncertainties are expected to persist and the DS division (Device Solutions, which includes memory chips, semiconductors and foundry processes) will focus on high value-added portfolio products, including expansion of current nodes and new applications.

The mobile industry in particular has high expectations for its new foldable devices, which will arrive on August 10. Expectations are that sales will surpass the Galaxy Note series, locking the door and throwing away the key to the hope of seeing a Note smartphone in the future.

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