Samsung’s profit rose 51% in Q1 2022, thanks to solid chip demand, S22 Ultra sales

Just recently, the South Korean tech giant Samsung announced the economic results for the first quarter ended March 31, 2022. The company has record tight revenue for the third quarter of KRW 77.78 trillion and operating profit of KRW 14.12 trillion, a 51% increase from a year earlier.

Samsung Q1 2022 Report

As per the report, Samsung’s mobile business assigned sequential increases in revenue, thanks to strong sales of Galaxy S22 Ultra, positive responses to new, mass-market 5G models, and solid sales of device ecosystem products including tablets and watches. The Networks Business continued to expand overseas and met domestic 5G evolution needs.

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Where Samsung Display market saw record Q1 results for mobile displays driven by strong sales to major smartphone customers, while for large displays the improvement of production yield of quantum-dot (QD) displays exceeded anticipations.

The strength of the US dollar against the Korean won was outweighed by weakness in some emerging currencies, leading to a positive impact of approximately KRW 300 billion on operating profit compared to the previous quarter.

In the MX business, revenues are expected to grow significantly YoY, driven by solid sales of the Galaxy S22 series and higher sales of new mass-market 5G models. The Company expects to achieve solid profitability by utilizing global SCM capabilities, despite macroeconomic uncertainties.

On the other hand, the DS division posted KRW 26.87 trillion in consolidated revenue and KRW 8.45 trillion in operating profit in the first quarter. And SDC posted KRW 7.97 trillion in consolidated revenue and KRW 1.09 trillion in operating profit for the first quarter.

The MX and Networks businesses posted KRW 32.37 trillion in consolidated revenue and KRW 3.82 trillion in operating profit for the first quarter.