Samsung is positive about the mobile market’s prospects in 2022, adding that it plans to expand its portfolio of 5G phones to cover multiple price points to drive growth.
The Korean electronics giant reported KRW76.6 trillion in revenues for its Q4 2021, a quarterly record, with profits reaching KRW13.9 trillion.
This growth was driven predominantly by products rather than components, with high-end smartphones such as the Samsung Galaxy S21 and Galaxy Fold 3 series having an impact despite ongoing supply chain constraints that have hampered the entire industry.
The company’s mobile and networks division recorded KRW29 trillion in revenues and a KRW 2.7 trillion profit for the three-month period. Looking ahead, it plans to offer ‘mass market’ handsets that will appeal to consumers looking to replace their existing device for a 5G alternative and is expected to launch new flagship smartphones next month.
“Looking ahead to the first quarter, demand for smartphones and tablets is forecast to decline quarter-on-quarter amid weak seasonality as well as uncertainties over component supply,” the company told investors.
“However, the MX Business aims to secure solid profitability by expanding flagship sales such as Galaxy S21 FE and upcoming release of a new Galaxy S series. Also, Samsung will proactively target replacement demand with competitive mass-market 5G lineup and growth opportunities in the market while continuing to increase sales of Device Ecosystem products such as PCs, tablets and wearables.”
In addition to being a major electronics manufacturer, Samsung is also a key supplier of components to the wider technology industry. It added that it expected to benefit from a wider recovery in the IT market and is optimistic that the price of memory chips will rebound after a recent dip.
The firm is also in an increasingly important player in the telecoms equipment market and says it plans to expand its portfolio and target more business in Europe.
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