In its most recent earnings guidance, Samsung said on Friday that it expects to earn 13.8 trillion won in operating profit and 76 trillion won in revenue in the fourth quarter of 2021.
It is a 52.5 percent and 23.5 percent increase, respectively, over the same time period last year.
Analysts in South Korea believe Samsung’s chip business contributed the most to the high earnings. According to analysts, the business unit will report its best performance to date due to strong demand for memory chips.
Solid performance from the South Korean tech giant’s mobile sector, thanks to the increasing popularity of its foldable phones, is also believed to have aided development.
Samsung’s full-year performance for 2021 is now 51.57 trillion won in operating profit and 279 trillion won in revenue, thanks to the fourth-quarter earnings report.
The yearly sales total is the company’s largest to date, while annual operating profit is up 43.3 percent from 2020.
Due to unprecedented demand for memory chips, Samsung’s previous best annual performance was in 2018, when it recorded 243.77 trillion won in revenue and 58.89 trillion won in operating profit – still its best operating profit figure to date.
Later this month, the company is expected to release its full earnings report for the fourth quarter of 2021.
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