Record-Breaking Revenue

Samsung Electronics Co. has reported a remarkable 12% increase in its fourth-quarter revenue of 2024, reaching a total of 75.8 trillion won (approximately $52.5 billion). This growth reflects the company's strong performance amidst challenging market conditions.

Operating and Net Profit Insights

The operating profit for the quarter stood at 6.5 trillion won (about $4.5 billion), showing a significant 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. The net profit was reported at 7.8 trillion won, indicating a robust financial health for the tech giant.

Annual Financial Highlights

For the entire fiscal year of 2024, Samsung achieved a revenue of 300.9 trillion won, marking a 16% increase, with an operating profit of 32.7 trillion won. Despite a quarter-on-quarter decline in the fourth quarter's revenue and operating profit, the annual figures underscore the company's resilience and strategic investments in R&D and market expansion.

"The annual revenue reached the second-highest on record, only surpassed in 2022. The decrease in operating profit by KRW 2.7 trillion QoQ was attributed to soft market conditions for IT products and increased expenditures, including R&D," Samsung stated.