Samsung has reported its earnings for Q2 2022 that ended June 30, 2022 in which the company posted 77.2 trillion won ($59.3 billion approx.) consolidated revenue, up 21% YoY which is a second-quarter record. It made an operating profit of 14.1 trillion won ($10.83 billion approx.), up 12% YoY, and this is the best in April to June period since 2018.
The DS (Device Solutions) Division reported a historical high in quarterly revenue for the second consecutive quarter, while the DX (Device eXperience) Division posted a significant year-on-year revenue growth, said Samsung.
Samsung MX (Mobile eXperience) in Q2 2022
The MX and Networks businesses posted 29.34 trillion won in consolidated revenue, up 29% YoY, driven by sales of premium models, but it was down 9% QoQ. Samsung said that the decline in revenue from the previous quarter is due to geopolitical issues and concerns over inflation, on top of continued weak seasonality.
The division posted 2.62 trillion won in operating profit, down 18.88% YoY and down 31.41% QoQ. Profitability decrease from the previous quarter was also due to rising costs of components and logistics, as well as negative effects of foreign exchange movements, said Samsung.
The company said that supply issues from the first quarter were mostly resolved in the second quarter and Samsung secured its revenue growth year-on-year with solid sales of flagship models such as Galaxy S22 series and Galaxy Tab S8 series.
Samsung MX Q3 2022
Samsung expects the smartphone market to stay similar year-on-year in Q3 2022, or show single-digit growth with prolonged geopolitical issues and economic uncertainties.
It will expand flagship sales with the launch of new foldable models, driving the main streaming of the foldable products as a key category in the premium segment, and plans to offer better customer experiences through collaboration with global partners. It will also launch new watch models, expanding Galaxy Ecosystem devices.