Samsung hits record revenues


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The increase in semiconductor average prices in the third quarter of the year helped Samsung. Foldable phone sales also made the company smile.

Despite the global chip crisis, chip manufacturers are breaking record after record. Samsung closed the third quarter with a record, thanks to the contribution of the semiconductor division beyond expectations.

Total revenue reached $63 billion, up 10 percent year-on-year, according to Samsung’s statement. Operating profit was $13.4 billion, the highest in the last 3 years and the second-highest in the company’s history.

The semiconductor division generated $22.5 billion in revenue thanks to high interest in data centers and cloud infrastructures. It increased by 16 percent year on year. Revenue rose to $23.33 billion, although mobile division sales declined due to the impact of foldable phones.

Samsung is quite hopeful about the last quarter. As the average semiconductor prices continue to rise, so does the number of mobile devices using OLED panels. On the other hand, there is an expectation of an increase in smartphone sales.

See also  Samsung Galaxy XCOVER 5 Released in the FCC

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