Samsung: new record for revenues but uncertainty for the future
Samsung has released its financial results for the third quarter of 2021 and they are positive. Both revenue and profit increased. But the group acknowledges that its situation could be complicated in the future.
A good third quarter for Samsung
According to Samsung, “favorable market conditions continued in the memory market,” resulting in “robust sales.” Its sales increased by 10% compared to last year to reach a record 73,980 billion won (54.4 billion euros), thanks to the excellent results of its chips in connection with the very high demand in times of pandemic.
The group’s net profit was 12.3 trillion won (EUR 9.05 billion), up 31.3% year-on-year. Operating profit rose by 28% to 15.8 trillion won (11.47 billion euros), the value anticipated by the group at the beginning of the month.
So everything is going well … for now at least. Samsung explains that the pandemic continues to represent a source of uncertainty. The group warned that “a longer-than-expected component supply issue may need to be monitored.”
Supply chain issues are hitting business around the world as companies face shortages of critical raw materials, components and transportation capacity. Samsung is no exception.