Samsung achieves record sales and sees smartphone sales increase by 6 percent – Tablets and phones – News

Samsung’s quarterly sales were 59 percent higher than last year due to increased sales of memory chips and consumer products. The quarterly turnover of the smartphone division was 6 percent higher than last year, partly because of the Note20.

Samsung quarterly turnover IT & Mobile communications, which includes smartphone sales, amounted to 29.81 trillion Korean won, equivalent to 22.4 billion euros. That is an increase of 6.1 percent compared to last year and an increase of 51 percent compared to the previous quarter. The latter increase is due to the introduction of the Galaxy Note20 and Z Fold2 and a recovery in demand for ‘models for the masses’, such as the Galaxy A and M. According to Samsung, improved sales of tablets and wearables also helped increase sales.

Samsung expects weaker sales for the current quarter due to increased competition, among other things, with which the company probably mainly refers to the arrival of the iPhone 12. The company plans to expand its sales next year by introducing more different Galaxy S and Note models and improving the competitive position of foldable smartphones, which the company is likely targeting price cuts for this category.

Sales of the Display Panel division were down 21 percent, but due to the steady increase in smartphone sales, Samsung expects the results from the sales of display panels to improve. Consumer Electronics turnover did rise, however, due to increased TV sales. Quarterly sales of the semiconductor division also rose, by 7 percent. Memory revenues increased due to increased PC and smartphone sales and home working. The Foundry Business achieved its highest quarterly turnover to date due to, among other things, increased demand for chips for high-performance computing.

Samsung’s total quarterly revenue amounted to $ 50.3 billion, an increase of 8 percent from last year and Samsung has never before achieved in their own words such a high quarterly turnover. Samsung expects lower results for the current quarter due to, among other things, weaker demand for memory chips for servers and increased competition from smartphones and consumer electronics.

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