May 26, 2022

Samsung Electronics introduced on Thursday his preliminary income for the 1st quarter of 2022.

The company said it forecast consolidated revenue of $63.1 billion (77 trillion won) and operating profit of about $11.6 billion (14.1 trillion won) for the quarter ended March. These numbers are higher than in the first quarter of 2021, when revenue was $53.6 billion and operating income was $7.6 billion.

The Korean tech giant expects to post its highest first-quarter operating profit since 2018, up 50% from last year’s first quarter, Reuters reported.This exceeds the $10.9 billion (13.4 trillion won) operating profit estimated by analysts at Bloomberg. Revenue, which is expected to surpass the previous record of $62.8 billion (76.6 trillion won) in Q4 2022, also beat market expectations to $61.4 billion (74.9 trillion won), according to estimates S&P Market Intelligence analysts. for wsjI

Sales and earnings are in line with strong demand for memory chips and the latest Samsung Galaxy S22 lineup. The Korean company that makes DRAM and NAND memory chips seems to have benefited from strong consumer demand for these chips, despite the recent drop in prices for semiconductor chips. DRAM prices may drop in 2Q22 due to inflation and ongoing war between Russia and Ukraine; and meaning This figure is expected to rise by about 5-10% in the second quarter of this year due to raw material contamination problems at a joint venture between Japan’s Kioxia and America’s Western Digital, which owns the annual production of NAND flash memory. trendforce reportI

Samsung said on Wednesday that sales of the Galaxy S22 series in South Korea are expected to surpass 1 million units by the end of this week. The company also expects to ship more than 6 million units of the S22 series by the end of March after launching in February, said Sujong Lim, deputy director of market research firm Counterpoint. told ReutersI

The Korean tech giant will release full first-quarter results on April 28.

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