Now that the primary quarter of the year is behind us, we are beginning to see more financial reports for the beginning of the year. Samsung is taking the spotlight today with booming business despite the COVID-19 pandemic, very similar to other tech companies recently.
The Korean tech giant has reported 46% higher profits compared to an equivalent period last year and this has been credited to strong Galaxy S21 sales. However, while Samsung did report a healthy net income figure of $6.4 billion for Q1 2021, the corporate warned investors of serious impacts on the business within the future thanks to the worldwide chip shortage.Samsung’s notable DRAM memory chips also showed strong sales once more, but the corporate said that production has faltered thanks to the recent power failure issues in Texas and therefore the declines within the chip market.
However, the demand remained strong for the DRAM chips also because of the Galaxy S21 series, which drove profits above ever within the half-moon.As for subsequent quarter, Samsung expects to ascertain a drop by smartphone sales thanks to a shortage of components caused by supply issues. The display business will still specialise in OLED panels for smartphones, TVs, tablets, laptops, and other products.