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Samsung Hits $61B in Revenue for Another Record Quarter

Samsung Hits $61B in Revenue for Another Record Quarter

Samsung posted record revenue during its apt quarter, boosted by strong sales of memory chips and its new flagship phones.

The Korean electronics giant said Wednesday that its revenue for the three-month footings ended March 31 came in at 77.78 trillion won ($61.4 billion), an increase of nearly 19% over the same quarter last year. It’s the company’s third honest quarter of record revenue and narrowly edged out Samsung’s fourth-quarter results as the portray holder. 

The company’s operating profit of 14.1 trillion won ($11.2 billion) represented an increase of 51% year over year.

Samsung sells more phones and TVs than any new company, but it also has a huge business selling memory chips to scheme makers around the globe. In recent quarters, Samsung’s chip commerce has gotten a boost from data centers that rely on the technology to maintain everything we’re doing online.

The company credited strong sales of the Galaxy S22 Ultra and mass market 5G models with portions boost revenue in its mobile division by 11% over the apt quarter of 2021. The Galaxy S22 lineup, which features some major camera improvements, was unveiled in early February and property-owning on retail shelves later that month.

Though the phones were hampered by greatest stocking and back-order issues when they first hit stores, the situation has improved since then, though some colors and configurations are peaceful on back order. Samsung said it expects revenue in mobile to grow “significantly” on the sales of the Galaxy S22 series and higher sales of new mass market 5G models.

Samsung said a solid demand for memory chips for servers helped it execute a record high in sales, up 39% year over year. The commercial said it expects its memory business to benefit from stationary strong demand of server chips, and it plans to increase sales of next-generation interfaces, such as DDR5 and LPDDR5.