Samsung’s Q2 2021 profit was the highest in three years, thanks to strong chip sales

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Three weeks after
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, Samsung has
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its final Q2 2021 numbers. The company said that its revenue increased 20%, and the operating profit increased 54% compared to Q2 2020. The company’s operating profit during the second quarter was the highest over the past three years, thanks to strong chip and memory sales.

Samsung’s revenue during the second quarter of 2021 was KRW 63.67 trillion (around $55.56 billion), and the company made an operating profit of KRW 12.57 trillion (around $10.97 billion). While the sales of Galaxy smartphones faltered due to
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and disruptions in the company’s Vietnam factories, the company’s semiconductor chip divisions continued to drive profits.

The chip division contributed KRW 6.93 trillion (around $6.04 billion) to the operating income, while the smartphone division contributed KRW 3.24 trillion (around $2.82 billion). A “one-time gain” (probably from
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for its
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) and increase in panel prices helped the display division contribute KRW 1.28 trillion (around $1.11 billion) to the operating profit.

Samsung said that higher memory prices and increased demand for memory chips were the key factors driving higher profits. The company expects the demand for memory chips to stay strong for the rest of the year on the back of data center, PC, and server sales. The operations of its semiconductor fabs were back to normal as its
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.

In the future, the South Korean firm expects to solidify its leadership in the premium smartphone segment by mainstreaming the foldable category. The company is expected to launch the
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and the
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with sleeker and more durable designs and lower price tags.
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said that it is working on
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, which will
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.



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