Samsung Electronics posted better than expected earnings in 2021.
According to the firm's earnings guidance on Thursday,… its estimated operating profit last year was around 43 billion U.S. dollars, around 44 percent higher compared to 2020.
This is the company's third highest operating profit ever and the largest since 2018's semiconductor boom period.
Sales hit a record 232 billion dollars, up 18 percent compared to the year before.
Operating profit in the final three months of 2021 was around 11 billion dollars, up 53 percent on-year.
The surprising earnings were led by semiconductors, with 78 billion dollars in sales, making Samsung the world's market leader, topping Intel for the first time in three years.
"2021's strong earnings were led by the rise in the average selling price of memory semiconductors in the first to third quarters in 2021 compared to the previous year. Another factor was an increase in the shipments of OLED products and an improvement in the profitability of smartphones."
Samsung Electronics' strong earnings were also largely due to its latest smartphone series, including the Galaxy Z Fold 3 and Galaxy Z Flip 3.
One million of these new foldable phones were sold in the 39 days after their release and around eight million of Samsung's foldable phone models were sold last year overall.
LG Electronics also posted an earnings surprise last year, recording an all-time high in sales.
According to the company's guidance report, estimated sales came to about 62 billion dollars last year, up almost 29 percent on-year.
This is the first time the company's yearly sales figure has topped 70 trillion won which is about 58 billion dollars.
LG Electronics' yearly sales ranked first among global companies for the first time, beating America's Whirlpool's sales of around 22 billion dollars.
The company said strong sales of LG's home appliances along with an expansion of major markets abroad have helped boost revenue.
Eum Ji-young, Arirang News.