Samsung, LG Electronics Showcase the Highest Performance Ever in Sales

Samsung predicted growth of more than 27% over the same period last year. For the first time in history, annual sales will likely exceed KRW 70 trillion, reaching KRW 73.70 trillion. For the first time, operation profit will likely surpass KRW 4 trillion.

Published by
Ria Lakshman

Samsung

This year, Samsung Electronics and LG Electronics forecast the largest sales since their founding. Based on a brokerage report, Samsung’s Q4 performance was expected to be KRW 75.26 trillion in sales and KRW 15.07 trillion in operating profit.

Sales topped the previous high of KRW 73,979.2 billion in Q3 2021, and operating profit is set to rise by 67% over the same period last year, reports Korea IT News. Samsung is predicted to earn an all-time high of KRW 278.67 trillion this year, exceeding the KRW 243,771.4 billion it earned in 2020. Operation profit is estimated to reach KRW 52.83 trillion, the highest level since the semiconductor super-boom in 2018.

In Q4 2021, LG Electronics is forecast to generate KRW 19.67 trillion in revenue and KRW 831.3 billion in operating profit. After generating KRW 18 trillion in Q3 2021, this is the first time in history that the company has established two new records in a row. Operation profit fell short of the record high set in Q1 this year (KRW 1.516 trillion).

Nonetheless, Samsung predicted growth of more than 27% over the same period last year. For the first time in history, annual sales will likely exceed KRW 70 trillion, reaching KRW 73.70 trillion. For the first time, operation profit will likely surpass KRW 4 trillion.

Home Appliances, Air Solution and TV account for LG’s sales

The Home Appliances and Air Solution (H&A) and TV (HE) businesses of LG Electronics accounted for most of the company’s earnings. In Q3, the H&A business division’s quarterly sales reached KRW 7 trillion for the first time. New home appliance sales, such as stylers and dryers, also reached new highs. Aside from OLED TV, which achieved a new high by more than tripling shipments over the previous year, the company also improved its performance in the Vehicle Component Solution (VS) division, which is growing orders in the reviving car market.

In 2022, both Samsung and LG Electronics will continue to showcase growth. Samsung Electronics is likely to surpass KRW 300 trillion in annual sales for the first time. With significant premium TV sales and a reversal in the electronics market, LG Electronics is predicted to generate KRW 76 trillion in sales and KRW 5 trillion in operating profit.

Meanwhile, Samsung Electronics and LG Electronics will release preliminary results for Q4 2021 around January 6-7, which would provide an accurate picture.

Ria Lakshman

An astute writer with a track record in writing and publishing content for various industries, Ria brings on board her wealth of experience in journalism and love for technology to TelecomTalk. When not writing or reading, she spends a copious amount of time daydreaming and finding obscure Japanese folklore on the internet.

Share
Published by
Ria Lakshman

Recent Posts

Smartphones in India Priced Under Rs 8,000 Suitable for Budget Users

If you are a budget user in India looking for a smartphone, various brands offer…

iQOO Neo 6 Specifications, Pricing and Launch Timeline Surfaces Ahead of its Arrival

The Vivo-sub brand iQOO is gearing up for the launch of its iQOO Neo 6…

Vivo Y01 Affordable Smartphone Goes Official in India at Rs 8,999

The popular smartphone manufacturer Vivo has launched its Vivo Y01 budget smartphone in India. The…

Hughes India President Explains Why Conflict of Spectrum Exists Between Satcom and Telecom Operators

The satellite communications (satcom) service providers and the telecom or terrestrial network service providers (TSPs)…

Leased Broadband Connection: What is It and How Can It Help You

If you own a small business or an enterprise, a leased broadband connection can help…

JioPhone Next Now Available at Rs 4499 With Exchange Offer

Reliance Retail has just launched a limited time period offer for users to exchange their…

Samsung Galaxy M13 5G Spotted With 15W Fast-Charging

Samsung is reportedly going to launch the Galaxy M13 5G very soon. The smartphone has…

WhatsApp Reportedly Planning to Add Preview Feature for Links in Status

WhatsApp Status has become one of the most popular places for users to post links…

Etisalat to Get 4.67% Indirect Stake in Vodafone Idea

The Emirates Telecommunications Group (Etisalat) will be getting an indirect 4.67% stake in Vodafone Idea…