Samsung Registers Best Quarter In Three Years Despite Note 7 Debacle

Main Image
  • Like
  • Comment
  • Share

In an official statement, South Korean smartphone maker Samsung revealed that it is doing just fine in terms of revenues and profits despite the disaster that was Galaxy Note 7 and the loss it tagged along with itself.

The company outed its earnings for the fourth quarter depicting a net profit of 9.2 trillion won (approx. US$ 7.2 billion) over sales of 53.3 trillion won (approx. US$ 45.8 billion), a 50% increase as compared to last year’s figures.

Also Read: Vivo V5 Plus With Dual Selfie Cameras and Snapdragon 625 Launched At Rs. 27,980

Despite the controversy that clouded its flagship Note 7 smartphone, Samsung has seemingly turned around its fortunes with this quarter being the best in the last three years.

samsunggalaxynote7

The company cited high earnings from its display and memory chip business as the primary reason behind this turnaround and issued a statement saying: “Robust sales of high-end, high-performance memory products and expanded process migration in V-NAND, plus strong shipments of OLED and large-size UHD panels contributed to profitability.”

The company also acknowledged the fact that the Korean won being weaker as compared to the US dollar worked in their favor as the component deals are mostly done in the latter.

Also Read: Leaks Suggest Nokia Is Working on An 18.4-inch, Snadragon 835 Powered Tablet

While the record high sales of the memory chips contributed majorly in this context, the company’s other smartphones including the S8 too chipped in, ensuring a year-over-year profit increase of about 4%. The company also remarked that it is expecting a further rise in sales, courtesy its range of low-end smartphones.

By the looks of it, Samsung has done a tremendous job pulling off profits even when the Note 7 recall had set it back by $2.2 billion as opposed to its projected quarter 3 profit of $6.6 billion. In spite of that, a lot still remains on the branding front if the company intends to keep its position as a smartphone giant intact.

Anurag SharmaAnurag Sharma
Passionate Storyteller, Occasional Writer. \m/ Journalism Undergrad. Trying to win at life one sentence at a time. Why so serious? Let's put a smile on that face. 8)

Related Articles

ImageVivo V30 Pro 5G Review: A Stylish Camera Phone

Vivo has recently introduced two new smartphones, the Vivo V30 and Vivo V30 Pro, in India as part of their V-Series lineup. Over the past few years, the brand has consistently aimed to provide slim and stylish designs, along with impressive camera performance, in their mid-range devices. This time around, Vivo has continued this trend …

ImageXiaomi & Realme Takes Top Spots in the Indian smartphone market in Q4 2021: Report

Supply chain issues of the chipsets have been a major issue for smartphone manufacturers all around the world. But despite these issues, smartphone shipments grew 11% year-on-year to reach 169 million units in 2021, though the 4th quarter marked a decline of 8%. Interestingly, the Indian smartphone market revenue crossed $38 billion in 2021, which …

ImageSmartphone shipments in India declines amidst the festive season: Falls by 10% in Q3

Despite the festival season in India, the Indian smartphone market share declined by 10% YOY shipping just 43 million units in the 3rd quarter with Vivo, Realme, and Xiaomi logging the sharpest fall in shipments, a report by IDC stated. The report claimed that this is the lowest 3rd quarter shipment since 2019 despite the …

ImageSamsung Galaxy Watch 7: Exynos 940 SoC, Three Variants, And Everything Else We Know

Samsung is gearing up to unveil a couple of new devices this year, including the most-anticipated Galaxy Ring, the next-generation Galaxy foldables, and the Galaxy Watch 7 series. The latest information from the grapevine comes from a known publication, which claims that the Korean giant will release three models in the Galaxy Watch 7 series …

ImageHow Would You Like Your Galaxy Ring To Prepare A Customized Meal Plan For You?

Samsung is working on the Galaxy Watch 7 series, which is reported to ship in three variants this year. However, the Watch 7 is not the only device creating a lot of buzz before its launch. At the Galaxy S24 launch event, Samsung teased the Galaxy Ring, a health and fitness tracking device that users …

Discuss

Be the first to leave a comment.