Record-Breaking Revenue

Samsung Electronics Co. has announced an impressive 12% increase in its fourth-quarter revenue for 2024, reaching a total of 75.8 trillion won (approximately $52.5 billion). This marks a significant milestone for the tech giant, showcasing its resilience and adaptability in a competitive market.

Operating Profit Insights

The company's operating profit for the quarter stood at 6.5 trillion won (about $4.5 billion), a substantial 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 was reported at 7.8 trillion won, reflecting the company's strong financial health despite market fluctuations.

Annual Financial Overview

For the entire fiscal year of 2024, Samsung reported a revenue of 300.9 trillion won, marking a 16% increase from the previous year. The annual operating profit reached 32.7 trillion won, highlighting the company's successful strategies and innovation-driven growth.

Market Challenges and Strategic Expenditures

"Despite a quarter-on-quarter decrease in revenue and operating profit, the annual revenue achieved the second-highest record, only surpassed in 2022. The operating profit saw a decrease of KRW 2.7 trillion QoQ, attributed to challenging market conditions, especially for IT products, and increased expenditures in areas such as R&D," Samsung stated, emphasizing its commitment to overcoming market challenges through continuous investment in research and development.