Key Points
- Samsung’s profit boomed beyond expectation in the quarter first of 2024.
- The strong sales of the Galaxy S24 and higher semiconductor prices resulted 10x profit.
- With such positive results, Samsung is set to continue its success and provide users with even more incredible experience.
Samsung had a fantastic first quarter (Q1) in 2024, thanks to the strong sales of the Galaxy S24 series and higher prices of memory semiconductors. On April 30, the Korean tech giant shared financial results for Q1 2024 with an operating profit of 6.61 trillion won and revenue of 71.92 trillion won.
The Galaxy S24, with its advanced capabilities, sleek design, and especially the Galaxy AI features has captured the hearts of consumers worldwide. The demand for these flagship smartphones was through the roof, leading to impressive sales figures and resulting in an ultimate profit.
Not only this, Samsung also benefited from the higher prices of semiconductors, which are crucial components of any device. Samsung, being a major player in the semiconductor industry, was able to capitalize on this trend and boost its profits. Now, let’s have a look at the data of Samsung’s profits in Q1 2024.
Samsung reported revenue of 71.92 trillion while operating profit increased to 6.61 trillion won. Overall, these strong sales of the Galaxy S24 and the booming semiconductor market have greatly contributed to Samsung’s impressive financial performance in the first quarter of 2024 which ended on March 31st.
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Whereas, the capital expenditures were KRW 11.3 trillion. Furthermore, the SDC department recorded KRW 5.39 trillion in revenue and KRW 0.34 trillion in operating profit. DS Division posted KRW 23.14 trillion in consolidated revenue and KRW 1.91 trillion in operating profit.
Visual Display and Digital Appliances businesses shared KRW 13.48 trillion in revenue and KRW 0.53 trillion in operating profit. Lastly, MX and Networks department posted consolidated revenue of KRW 33.53 trillion and operating profit of KRW 3.51 trillion for the first quarter of 2024.
