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Samsung Electronics has announced its earnings guidance for the second quarter of 2021. The tech giant has reported approximately 63 trillion Korean won ($55.4 billion) in sales, resulting in approximately 12.5 trillion Korean won ($11 billion) in profit.
Reports show that the sales have increased by 18.8% yearly but decreased by 3.6% compared to the first quarter of 2021. Profit, on the other hand, has increased both yearly and quarterly. Samsung has reported a 53.4% increase in profit yearly and a 33.33% increase in profit on a sequential basis.
| Q2 2020 Results in won | Q1 2021 Results in won | Q2 2021 Guidance in won | |
| Sales | 52.97 trillion ($46.6 billion) | 65.39 trillion ($57.5 billion) | 63 trillion ($55.4 billion) |
| Operating profit | 8.15 trillion ($7.17 billion) | 9.38 trillion ($8.25 billion) | 12.5 trillion ($11 billion) |
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The company will release its full earnings report by the end of this month, which will show the performance of each business division. In its first-quarter results, Samsung did point out that earnings in the semiconductor business were expected to increase in the second quarter. Market analysts in South Korea also believe that the semiconductor business was the driving factor behind Samsung’s massive increase in profit.
On the other hand, Analysts expect that Samsung’s smartphone shipments may have declined compared to Q2 2020. Which analysts believe is due to production disruption in Vietnam because of COVID19 and a significant decline in demand in India.
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