Friday, May 24, 2024
HomeTechIn Just Three Months, Samsung's Profits Soar by 933% to $4.8 Billion.

In Just Three Months, Samsung’s Profits Soar by 933% to $4.8 Billion.

A revenue of 71.92 trillion South Korean won, or around $52.08 billion, has been recorded by Samsung. When compared to the same time last year, this is a 17 percent increase.

Even more astounding is the operating profit increase of 933 percent. The strong performance of several areas of Samsung’s company is the cause of this increase in profit. For instance, Samsung’s smartphone business generated revenue of $24.27 billion, or 33.53 trillion South Korean won, and an operating profit of $2.54 billion.

Samsung’s mid-range smartphone line was not without its challenges, but the Galaxy S24 series was a big hit and contributed significantly to increased profits.

Samsung attributes its sustained robust profitability to the optimization of its resources. This indicates that they have been looking for methods to cut expenses, such as lowering the price of the chips their phones utilize. For instance, they were able to decrease costs and increase profits when they introduced their most recent flagship range, which included the Exynos 2400 and Snapdragon 8 Gen 3 models.

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