Samsung is open about wanting to popularize foldable technology. The popular Galaxy Note series was discontinued by the firm in order to make more room on the market for foldables. To outsell Note phones, it is now focusing on folding devices. To increase sales, the company wants to give foldable consumers better experiences. On August 10, the Galaxy Z Fold 4 and Flip 4 will be available.
To put things in context, Samsung reportedly sold ten million foldable smartphones last year, with the Galaxy Z Fold 3 and Flip 3 accounting for around eight million of those sales. The Galaxy Note 20 and Note 10 series, in comparison, each sold a total of 12 million and 14 million handsets, respectively. According to earlier estimates, the company intends to treble the sales of its foldables by 2022. Therefore, it seems that the combined sales volume for the Fold 4 and Flip 4 will be around 15 million units.
In its Q2 2022 financial report, which was released earlier today, Samsung stated its short-term goal for foldable device sales. With foldable devices becoming more common, The MX Business “smartphones” anticipate posting strong profits. The company wants foldable sales to surpass those of the Galaxy Note series, the Korean behemoth said . Despite increasing revenue, it reported a year over year (YoY) fall in MX company earnings this past quarter.
Advertisement Samsung claims that rising logistics and material costs have affected its profitability from smartphones. Profitability was also impacted by sluggish market demand brought on by worries about inflation. However, it was able to report a respectable profit because to the Galaxy S22 and Galaxy Tab S8 series flagships’ strong sales.
A record for the second quarter, Samsung announced consolidated sales of KRW 77.2 trillion (about $59.3 billion). Additionally, its operational profit rose by 12 percent from the previous year to KRW 14.1 trillion ($10.8 billion). Since 2018, that was the company’s greatest Q2 profit.
SEMICONDUCTORS WERE PART OF SAMSUNG’S STRONG Q2 FINANCIAL PERFORMANCE. According to Samsung’s Q2 2022 financial report, the global decline in smartphone sales had no impact on the company. And to a considerable extent, that is true. The semiconductor division was mostly responsible for the company’s profitability in the most recent quarter. The second quarter of this year saw higher YoY and QoQ (quarter-over-quarter) earnings for the Korean company, which is the largest memory chip vendor in the world.
Advertisement The DS (Device Solutions) segment, which comprises the semiconductor industry, announced a quarterly sales total of KRW 28.5 trillion, which was a record high. A good profit margin in this business division is also indicated by the operating profit of KRW 9.98 trillion. In the second half of the year, Samsung intends to concentrate on growing its advanced semiconductor nodes (it recently started 3nm mass production). Next year, the business is anticipated to produce 3nm smartphone processors.