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Samsung earns record revenue for 2021
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Samsung has just reported a record breaking quarter and 2021 when it comes to revenue, and is predicting more growth for 2022.
The South Korean tech giant made 76.57 trillion won (about £47.4 billion) in revenue in the fourth quarter of 2021, and 279.6 trillion won (£173 billion) over the entire year.
This represents a 24% year-on-year bump, whichSamsung attributesto “expanded sales of premium smartphones, including foldable phones, as well as TVs and home appliances”.
For 2022, Samsung predicts continued growth as “global IT demand” recovers, though it admits that “challenges associated with supply issues and COVID-19 are likely to persist”.
The company plans to secure a bigger slice of the smartphone market by releasing more mass market 5G smartphones. It expects 5G phones to make up more than half of all smartphone sales in 2022, so we may have just hit the 5G tipping point.
This will pitch Samsung against a number of Chinese rivals, such as Oppo and Xiaomi, who release a large number of affordable 5G phones in a year.
Samsung also believes that the demand for OLED display technology is going to increase as foldable phones continue to grow. The unexpected success of its ownSamsung Galaxy Z Fold 3and Galaxy Z Flip 3, as well as a bunch of emerging rival efforts mean this is a section of the market to watch in 2022.
Despite these record numbers, Samsung’s operating profits are lower than expected due to a combination of a special bonus payment to employees, cautious memory chip shipments, and high R&D costs.
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Jon is a seasoned freelance writer who started covering games and apps in 2007 before expanding into smartphones and consumer tech, dabbling in lifestyle and media coverage along the way. Besides bein…
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Founded in 2003, Trusted Reviews exists to give our readers thorough, unbiased and independent advice on what to buy.
Today, we have millions of users a month from around the world, and assess more than 1,000 products a year.
Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.
