Samsung increases its quarterly net profit 31% despite supply problems

The South Korean tech giant Samsung Electronics announced on Thursday a 31% increase in its net profit in the third quarter, overcoming the problems in global supply chains caused by the pandemic.

The main world chip maker and phones It said in a communication to the regulator that its net profit reached 12.29 trillion won ($ 10.5 billion) between July and September, an increase of 31% over the same quarter of the previous year.

Its turnover increased 10% year-on-year to a record 74 trillion won ($ 63 billion), supported by the good performance of its memory chip division.

In fact, 60% of its operating profit comes from the business of semiconductors, impacted globally by the shortage of these components and problems in the supply chain.

In this sense, the firm indicates that these effects will remain and that “a problem with the supply of components will have to be monitored for longer than expected.”

The manufacturer also admits that the weakness of the South Korean won against the US dollar has boosted its operating margins by 800 billion won ($ 681 million).

Samsung Electronics is the flagship of the gigantic conglomerate Samsung, the largest of the family empires that dominate business in South Korea, the twelfth world economy.

Its sales volume is equivalent to one fifth of the Gross Domestic Product from the country.

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