The South Korean company Samsung Electronics has already published preliminary results for the first quarter, as noted by Reuters, but did not specify how much of the revenue was received in specific areas of activity.
The company’s operating profit for the first quarter increased to $8.3 billion compared to the same period in 2020, which corresponds to an increase of 44%. Revenue rose 17% to $58.2 billion. Samsung’s financial performance exceeded analysts’ expectations, but they suggested that the February freeze in Texas in the semiconductor business damaged the company’s operating profit, which caused it to decline 20% to $3.2 bln. However, experts expect that already in the second quarter the rise in prices for memory will return profits to growth.
According to unofficial forecasts, in the first quarter, Samsung shipped 76 million smartphones; which is much more than the result of the fourth quarter. The early debut of the Galaxy S21 family, as well as the aggressive pricing policy of the Korean manufacturer, which was forced to compete with Chinese companies for the market share of Huawei, contributed to this growth. TV equipment also remains a popular category of goods.
Gizchina News of the week
Samsung regains the title of number one company in the smartphone market
In February, Samsung delivered 24 million units of mobile devices to the market, and its share was 23.1%. This allowed the company to return to the first place in the ranking of the leading suppliers of smartphones; although the gap from the owner of the “silver” is not so big. For comparison, in January of this year, the share of Samsung was equal to 15.6%; and in annual terms, the growth was 26%, and in comparison with the same period last year – 12%.
In the first month of this year, the leadership in the mobile device market was captured by Apple; which controlled 25.4% of the market share. But in February, it slowed down and came to the finish line second with 23 million iPhones sold; and its share was 22.2%. And this is 74% more than the volume of devices sold that was realized in February last year.