Whereas most tech corporations would most likely kill to be in Samsung’s place, the ex-number one smartphone vendor on this planet was actually not happy with its monetary efficiency in 2023, ending the yr not solely behind Apple in international handset gross sales but additionally with a worryingly low total revenue rating.
However issues are beginning to lookup once more for the Korea-based large, and that is probably resulting from each slowly recovering Galaxy telephone shipments and quickly rising reminiscence chip costs. We cannot know for certain which of the corporate’s divisions generated the most important monetary positive aspects in Q1 2024 till late April, with solely a (very encouraging) total preliminary result made public today.
Briefly, Samsung expects to make roughly 6.6 trillion Korean received in revenue for the January-March timeframe of this yr on the again of consolidated gross sales of round 71 trillion received. That equates to roughly $4.9 billion and $52.5 billion respectively, and what’s fascinating to notice is that income are up massively from the KRW 0.64 trillion reported back in Q1 2023 whereas the income determine has solely jumped from 63.75 trillion received this time final yr.
Samsung has clearly discovered a means (or a number of) to squeeze much more cash from roughly the identical variety of merchandise offered around the globe, though the record-setting revenue scores of some years again nonetheless look out of attain for the foreseeable future.
In Q3 2021, as an example, the corporate generated an working revenue of almost 16 trillion received on gross sales of round 74 trillion, however there’s probably no profit in dwelling on the previous. Not when Samsung is taking a look at a year-on-year improve of 931 % (!!!) in Q1 revenue, in addition to its greatest such outcome since Q3 2022.Â
Waiting for the longer term, it is exhausting to know precisely what to anticipate… till Samsung publishes its full and detailed monetary evaluation for the newest quarter, though international reminiscence chip demand is predicted to remain regular and Galaxy S24 collection gross sales are nonetheless booming worldwide. Briefly, there are fairly just a few causes for the corporate to anticipate additional development regardless of quite a few different issues that look much less promising, like foldable handset shipments.
