Samsung Electronics reported its financial results for Q1 2022. Revenues hit a new record of 77.78 trillion Won ($61.2 billion USD) and the operating profit was 14.12 trillion Won ($11 billion USD).
Samsung Display's revenues were 7.97 trillion Won ($6.3 billion USD) with an operating profit of 1.09 trillion Won ($900 million USD). Samsung says its mobile display earnings improved from 2021, led by strong demand for OLED smartphone displays and growing adoption of OLED displays in laptops and gaming devices.
Samsung says its QD OLED monitor displays were "well received in the market", and the company is raising its expectations for the QD TVs which will be released in Q3. Samsung is stabilizing the production yields of its QD displays.
The war in The Ukraine and Covid lockdowns are expected to cause a decline in mobile display sales in the next quarter. Looking further ahead, the company plans to "reinforce its leadership in the premium OLED display market", and also secure a solid position in the automotive EV market, for which Samsung will offer a full lineup of solutions, from rigid to foldable displays.