Samsung Electronics Co. Reports Significant Growth

In an impressive financial disclosure, Samsung Electronics Co. revealed a 12% annual increase in its fourth-quarter revenue for 2024, totaling 75.8 trillion won (approximately $52.5 billion). This growth underscores the company's resilience and adaptability in a fluctuating market.

Operating and Net Profit Insights

The company's operating profit for the quarter was reported at 6.5 trillion won (about $4.5 billion), a notable rise from the previous year's 2.82 trillion won. However, it experienced a 30% decrease from the last quarter's 9.18 trillion won. Net profit for the quarter stood at 7.8 trillion won, showcasing the company's robust financial health.

Annual Financial Performance

For the entire fiscal year of 2024, Samsung achieved a revenue of 300.9 trillion won, marking a 16% increase from the previous year. The annual operating profit was recorded at 32.7 trillion won, reflecting the company's strong performance despite market challenges.

Market Conditions and Future Outlook

Samsung attributed the quarter-on-quarter decrease in revenue and operating profit to soft market conditions, particularly for IT products, and increased expenditures, including R&D. The company remains optimistic about its future, citing its annual revenue as the second-highest on record, only surpassed by its 2022 performance.