Samsung Electronics' operating profit increased 54% year-on-year and 34% QoQ in the second quarter of 2021, driven by strong semiconductor sales. The company reported sales of KRW 63.67 trillion (approximately $ 55.5 billion) and operating income of KRW 12.57 trillion (approximately $ 10.9 billion).
Samsung's semiconductor division contributed more than a third of total revenue during the second quarter. The memory business saw a significant increase in sales compared to the previous quarter due to an increase in the prices of DRAM and NAND chips.
Samsung's IT & Mobile Communications division was hit by the global shortage of component supplies and production disruptions at the company's Vietnam facility. These factors, combined with the weak seasonality, led to a decrease in revenues compared to the first quarter of the year. However, revenue was still higher than in the same period last year.
Samsung expects the global smartphone market to return to pre-COVID level in the second half of the year, hoping to achieve strong revenues by “integrating” foldable devices.
