South Korean tech giants Samsung and LG are reportedly expecting to see a big leap in their revenue by the year 2022.
The report was gotten from ETNews which made it known that Samsung is forecasted to rake in some US$63 billion or KRW 75.26 trillion in sales and then a US$12 billion or KRW 15.07 trillion in operating profit in the current Q4 of the year.
What those numbers showed is that Samsung has edged out its previous quarter’s sales for the year 2021 while marking a 67% increase over the same period compared to the previous year.
Also, the company is then forecasted to rake in a huge US$234 billion or KRW 278.67 trillion annually in 2022 which would certainly be its highest-ever revenue that crossed its 2018 earnings.
The South Korean tech giant is expected to reach an operating profit of about US$44 billion or KRW 52.83 trillion which is also the company’s highest since the year 2018.
One of the main causes of the explosive growth is said to be linked to the recent demand for semiconductors.
Daishin Securities researcher, Soo-bin Lee stated that “Samsung Electronics is expected to enter the upcycle of DRAM memory semiconductors in the new year,” while another researcher, Yu-mi Cha, said that “The situation of automotive semiconductor parts shortage will improve after the first half of the year.”
On the other hand, is LG which recently exited the smartphone market, is expected a record performance this year as well.
Its overall sales and operating profits are expected to reach about US$16 billion or KRW 19.67 trillion and US$700 million and KRW 831.3 billion respectively.
However, while the company saw record-high revenue, its operating profits were lower than the first quarter of this year.
Even at this rate, the company is projected to hit US$62 billion or KRW 73.70 trillion in annual sales for the first time in this history while its annual operating profit is expected to reach around US$3 billion or KRW 4 trillion.