Samsung reports record-breaking second quarter thanks to skyrocketing Galaxy S22 sales

Samsung reports record-breaking second quarter thanks to skyrocketing Galaxy S22 sales

Samsung published its quarterly financial reports and the figures for the period April-June 2022 look impressive. The Korean company revealed that its revenue was KRW 77.2 trillion ($59.2 billion), which is 21% more than in the same period of 2021. Operating profit was KRW 14.1 trillion ($10.8 billion), which 12% more on an annual basis.

Looking at sales in different segments, half of the sales increase came from the Mobile eXperience (MX) division where premium products (namely the Galaxy S22 series) were a lot more popular than their predecessors in 2021.

Samsung reports record-breaking second quarter thanks to skyrocketing Galaxy S22 sales

The strength of the US dollar against the Korean won benefited Samsung’s component trading business, generating an additional KRW 1.3 trillion (nearly $1 billion) in profit.

However, the macroeconomic uncertainties are expected to persist and the DS (Device Solutions, which includes memory chips, semiconductors and molding processes) division will focus on high value added portfolio products, including expanding current nodes and new applications.

The mobile business in particular has great expectations of the new foldable tablets that will arrive on August 10. Sales are expected to surpass those of the Galaxy Note series, locking the door and throwing the key in the air in hopes of seeing a Note smartphone in the future.

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