Samsung Electronics Announces KRW 32.7 Trillion ($ 22.3 billion) Operating Profit for FY 2024
South Korea: Samsung Electronics reported its financial results for the fourth quarter and fiscal year 2024. The company achieved consolidated revenue of KRW 75.8 trillion ($ 51.7 billion) and an operating profit of KRW 6.5 trillion ($ 4.4 billion) in Q4. For the full year, Samsung recorded revenue of KRW 300.9 trillion ($ 205.2 billion) and an operating profit of KRW 32.7 trillion ($ 22.3 billion), marking the second-highest annual revenue in its history. The decline in quarterly revenue and operating profit is attributed to soft market conditions, especially for IT products, and increased expenditures, including R&D. In the first quarter of 2025, Samsung aims to pursue growth through increased sales of smartphones with differentiated AI experiences and premium products in the Device eXperience (DX) Division. The company plans to enhance technological and product advantages in AI, meet future demand for high-value-added products, and drive sales growth in premium segments throughout 2025. Capital expenditures in 2024 totaled KRW 53.6 trillion ($ 36.6 billion), with KRW 46.3 trillion ($ 31.65 billion) allocated to the Device Solutions (DS) Division and KRW 4.8 trillion ($ 3.2 billion) to Samsung Display Corporation (SDC). In the fourth quarter, the DS Division posted KRW 30.1 trillion ($ 20.5 billion) in consolidated revenue and KRW 2.9 trillion ($ 1.9 billion) in operating profit. The Memory Business achieved record-high fourth-quarter revenue, driven by increased sales of high-bandwidth memory (HBM) and high-density DDR5 for servers. However, operating profit decreased slightly due to increased R&D expenses and initial ramp-up costs for cutting-edge nodes. In the first quarter of 2025, the Memory Business plans to shift its portfolio to more high-value-added products by accelerating the migration to advanced nodes to meet the demand for high-performance and high-density products.
Source: Samsung