Samsung guidance shows strong increase in profit for Q2 2021

Samsung
Tamsin Rodriguez7 July 2021Last Update : 12 months ago
Samsung guidance shows strong increase in profit for Q2 2021

Samsung has released its quarterly earnings guidance, and the figures for the period April – June 2021 look promising. Sales have increased by 18% on an annual basis, which is not a surprise given the situation last year, but profits have increased both annually and in sequence.

Q2 2021 Guide KRW / USD Q1 2021 Results KRW / USD Q2 2020 results KRW / USD
Sales 63 trillion / 55.4 billion 65.39 trillion / 57.5 billion 52.97 trillion / 46.6 billion
Operating profit 12.5 trillion / 11 billion 9.38 billion / 8.25 billion 8.15 billion / 7.17 billion

The full earnings report is expected at the end of this month and the company will provide details on each division. Samsung has already revealed that the pandemic is pushing for optimizations in the marketing department, which would explain the massive increase in profits.

The mobile industry experienced increased interest in the Galaxy S21 series, where sales in the first quarter reached a peak of four years, and we are pretty sure that this has also surpassed the Q2 results.

However, Samsung is likely to get a massive hit in sales and profits after the bottleneck in chipset production that led to the cancellation of this year’s Galaxy Note smartphone as well as the delay of the affordable flagship Galaxy S21 FE.

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