Smartphones and Electronics Compensate for Chip Problems at Samsung

Samsung posted a 9.38 trillion South Korean Won profit, or nearly 7 billion euros, in its first quarter. Mobile devices and electronics performed well.

Screens and chip production were less successful due to production problems, among other things.

This operating profit is offset by a turnover of KRW 65.39 trillion (South Korean Won) or EUR 48.53 billion. The total turnover increases by six percent on an annual basis. The profit by four percent. In general, Samsung states that the additional sales of smartphones and consumer electronics compensate for the decline in chips and screens.

IT and Mobile Communications remains the largest division, accounting for KRW 24.21 trillion revenue and KRW 4.39 trillion profit. Samsung indicates that the market is shrinking compared to the previous quarter, but is seeing improvement compared to a year ago when the first impact of Covid-19 became noticeable.

Sales got a boost thanks to both the current smartphone top model, the Galaxy S21, and the A-series. Samsung is also satisfied with tablets, PCs and wearables, although it does not mention specific figures there.