Samsung reported a revenue of 71.92 trillion South Korean won, which is approximately $52.08 billion. This represents a 17 percent increase from the same period last year.
Massive 933% Increase
What’s more impressive is the massive 933 percent increase in operating profits. This increase in profit is due to various parts of Samsung’s business performing exceptionally well.
For example, Samsung’s smartphone division generated revenue of 33.53 trillion South Korean won, or $24.27 billion, with an operating profit of $2.54 billion.
Despite some difficulties with its mid-range smartphones, Samsung’s Galaxy S24 series was a huge success, contributing significantly to earnings growth.
Exynos 2400
Samsung attributes its continued high profitability to resource optimisation. This means they’ve been looking for ways to save money, such as lowering the cost of the chips used in their smartphones.
They introduced their latest flagship lineup, the Exynos 2400 and Snapdragon 8 Gen 3 variants, which allowed them to save money and increase profits.
To read our blog on “Samsung Resurfaced in Q1 2024 with Profit Growth of 10x,” click here
