Samsung Electronics reports a record quarter, with strong OLED panel sales

Samsung Electronics reported its financial results for Q3 2021, with record quarterly sales ($63 billion USD) and an increase of 31% in net profits (to $10.5 billion).

The strong performance was mostly thanks to Samsung's chip business and the weak Korean won. Samsung's display business also enjoyed a good quarter, with strong sales of small and medium-sized OLED panels. Samsung's large-area LCD business, though, posted losses as prices of LCD panels declined.

Looking ahead, Samsung aims to use its QD-OLED technology to increase its market share in the premium TV market. In 2022, the company expects to enjoy a "favorable environment" for its OLED business, thanks to the recovery of smartphone market demand. Samsung also sees strong sales of OLED panels to tablets and laptops - it expects OLED IT panels sales to grow by around 100% in 2022.

Posted: Oct 30,2021 by Ron Mertens