Samsung posts strong Q1 results thanks to solid sales of smartphones
Samsung has posted its detailed financial report for Q1 2021, and the numbers look great. The Korean company reported record-breaking revenue of KRW65.39 trillion (about $59 billion), mostly thanks to solid sales of smartphones and consumer electronics, making up for businesses like semiconductors and displays.
The numbers might be a bit skewed due to the comparison with Q1 2020 when the coronavirus swept the world and surprised both markets and consumers. Now Samsung is confident conditions will improve, and component business will be better in the second half of the year.
Speaking about the Mobile Communications Business, the report revealed sales of flagships and mass-market devices, as well as tablets, PCs, and wearables, maintained solid performance, backed by the 5G expansion across the globe.
However, revenue and profit will decrease in the next quarter, the one ending in June. Samsung stated it is capable of providing displays and memory chips, but due to the bottleneck in manufacturing SoC, sales will be down, affecting all the distributors involved.