Samsung Electronics Reports Impressive Q4 Growth

Samsung Electronics Co. has announced a remarkable 12% increase in its total revenue for the fourth quarter of 2024, amounting to 75.8 trillion won (approximately $52.5 billion). This growth signifies a strong annual performance for the tech giant.

Operating Profit and Annual Performance

The company's operating profit for the quarter reached 6.5 trillion won (about $4.5 billion), showing a significant rise from the previous year's 2.82 trillion won. Despite a 30% decrease from the last quarter's 9.18 trillion won, the net profit stood at a robust 7.8 trillion won. For the entire fiscal year of 2024, Samsung reported an impressive 300.9 trillion won in revenue, marking a 16% increase, with an annual operating profit of 32.7 trillion won.

Market Conditions and R&D Expenditures

Samsung attributed the quarter-on-quarter decrease in revenue and operating profit to challenging market conditions, particularly for IT products, and increased expenditures in research and development. "Despite the quarterly decrease, our annual revenue reached the second-highest on record, only surpassed by 2022. The slight dip in operating profit reflects our commitment to innovation and adapting to market demands," stated Samsung.