Samsung Electronics: Record profit thanks to semiconductor business

Released on 28.10. 2021

  • Samsung Electronics is benefiting significantly from the increased prices for semiconductors. Photo: Carsten Koall

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The scarcity of important semiconductors not only has losers: Samsung Electronics can therefore look forward to the strongest quarter in years. But not all divisions of the group are doing so well.

Seoul (dpa) – Thanks to its extremely strong semiconductor business, Samsung Electronics posted its highest quarterly profit in three years.

As the South Korean electronics company announced on Thursday, the operating profit rose in Period July to September by 28 percent to 15, 8 trillion won (equivalent to approx. 8.6 billion euros). Alone 64 percent of the total operating profit comes from the semiconductor business, which is 82 percent rose to the equivalent of almost 7.5 billion euros.

Samsung Electronics’ net profit increased year over year from July to September 29, 3 percent on 12, 29 Trillion Won. Overall, these are the second-highest quarterly results since the company was founded.

In contrast, Samsung Electronics’ consumer electronics division delivered disappointing results, which is also due to increased material and logistics costs. Overall, however, Samsung Electronics benefited significantly from the increased prices for computer chips on the world market as well as the currently comparatively weak South Korean won Supply and gradually flattening demand will soon decline again, which somewhat diminishes the forecasts for Samsung’s fourth fiscal quarter. The South Korean electronics company was optimistic that chip demand would remain strong beyond the pandemic.

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