Samsung’s annual net profit increased 1.5 times in 2021

The South Korean company Samsung released its annual report. According to its input, net profit in 2021 increased 1.5 times to 39.2 trillion won or 32.7 billion US dollars. The company’s annual revenue hit a record high. It reached 279.6 trillion won, or $233.4 billion. Samsung ended the 4Q of the previous year with a 60% year-on-year increase in net income to 10.6 trillion won, or $9 billion. The company’s quarterly revenue jumped 24% from the same period in 2020 to 76.6 trillion won, or $64 billion. Samsung said in a press release that the high results were achieved by increasing the production amount. Revenue and profit growth were also supported by increased sales of high-end smartphones. The company’s divisions showed positive dynamics of indicators. Despite strong reporting data, Samsung shares are getting cheaper. The company said that it is problematic to predict the results of the current year, as the market remains to have an instability-high level.

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Arseny Kudrin

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