Samsung Electronics has just presented the company’s financial results for the first quarter of 2021, which ends on March 31. After a difficult few years, good news: revenues were up 6% and recorded for the first quarter, with profits 4% higher than in the previous quarter and 45.5% higher than in Q1 2020.
In Q1 2021, the smartphone division managed to save plates in the face of lower semiconductor and display revenues. For the future, the company expects good sales of models such as Galaxy A72 or A52 and plans to strengthen its portfolio of premium and affordable 5G smartphones.
It’s been a good quarter for the mobile division
In the first quarter of 2021, Samsung Electronic posted revenue of 65.39 trillion won and profit of 9.38 billion won, up 6% in revenue and 4% in profit compared to the fourth quarter of the previous year. The comparison with the same period of the previous year is even more positive: then Samsung reaped 6.45 trillion won in profits.
Of these figures, Samsung’s mobile division contributed 29.21 trillion won in revenue and 4.39 trillion won in profit, almost half of the total. Solid sales of the Samsung Galaxy S21 and Galaxy A, aided by improved sales of tablets, PCs, and wearables, were largely to blame.
Samsung’s plan for 2021: Foldable and 5G mobiles
For the second quarter, the company anticipates good demand for models such as the Samsung Galaxy A52 or A72, tablets, wearables, and the new Galaxy Book, although it is preparing for the effect of chip shortages and uncertainty related to the COVID-19 pandemic.
Once again, Samsung’s focus will be on reinforcing its leadership in the premium segment with foldable handsets, as well as expanding its 5G mobile range for the masses and growing its tablet, wearable, and PC businesses.