Samsung Predicts Stellar First Quarter Earnings
April 15, 2021
Despite a manufacturing issue at a U.S.-based chip manufacturing facility this winter, Samsung is expecting to have had a stellar first quarter, with as much as a 44 percent profit jump over the same time period last year.
The growth can be partially attributed to the release of the Samsung Galaxy S21 in January, which helped to create momentum in the smartphone sales space. The Galaxy S21 series includes a Snapdragon 888 chipset in the U.S. and a Samsung-made Exynos 2100 chipset in other countries. These newest smartphones from Samsung also come with 8GB of RAM and up to 256GB of storage. They have a unique new design, with three camera lenses sitting in a vertical line in the top left corner of the back of the phone. The S21 has a 4000mAh battery; the S21+ has a 4800mAh battery.
Samsung may experience a great second quarter as well, if their sales in India continue to be as strong. In the beginning of April, Samsung released the Galaxy F12 and the Galaxy F02s in India; both are selling well. Perhaps the most notable feature of these new Samsung phones is their large battery: the Galaxy F12 comes with a 6000mAh battery and the F02s has a 5000mAH battery.
These gains for Samsung came despite a multi-million-dollar loss due to a winter storm that ripped through Austin in February, shutting down their chipset production facility. The timing couldn’t have been worse: the entire global supply chain has experienced major issues since the Covid-19 pandemic began. However, Samsung expects to get back on top of their production quickly, which will continue to drive growth throughout the rest of the year.
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