Foldable Phone Boom... Samsung Electronics Smartphone Sales Recover to 100 Trillion Won

Sales of 109 Trillion Won, Highest Performance Since 2014
Expansion of Premium Smartphone Sales Including Foldable Phones

[Asia Economy Reporter Lim Hye-sun] Samsung Electronics' smartphone sales last year recovered to the 100 trillion won level in just one year. This is the highest performance since 2014. It is attributed to the successful sales of the Galaxy Z series, which signaled the popularization of foldable phones.

Samsung Electronics announced on the 29th that the IT & Mobile (IM) division, responsible for the smartphone business, recorded sales and operating profit of 109.25 trillion won and 13.63 trillion won last year. These represent increases of 9.6% and 19.0%, respectively. The sales and operating profit for the fourth quarter were 28.95 trillion won and 2.66 trillion won.

Samsung Electronics analyzed that sales increased due to the expansion of premium smartphone sales such as foldable phones and steady sales of Galaxy ecosystem device products including PCs, tablets, and wearables. The network business improved its performance compared to the previous quarter due to sales growth in domestic and overseas markets.

Samsung Electronics' smartphone division faced a red alert as sales fell below the 100 trillion won mark when the smartphone market shrank with the onset of the COVID-19 pandemic in 2020. However, last year, it re-entered the 100 trillion won sales range by succeeding in the foldable phone market. Last year, consumption by 'homebodies' continued, supporting sales of wearable products such as tablets and watches. In the fourth quarter alone, 72 million mobile phones and 7 million tablets were sold.

Samsung Electronics also maintained its 'number one crown' in the global smartphone market. According to market research firm Counterpoint Research, Samsung Electronics ranked first in the smartphone market last year with an 18.9% market share. It was followed by Apple (17.2%), Xiaomi (13.5%), Oppo (11.4%), and Vivo (9.6%). Counterpoint Research's figures are based on the actual units sold to consumers.

Expectations for the new Galaxy S22 are positive for this year’s outlook. Samsung Electronics will hold 'Galaxy Unpacked 2022' on the 10th of next month to unveil the flagship smartphone new Galaxy S22 series. Samsung Electronics expects the Galaxy S22 to be the most notable model among all S series to date. Previously, Tae-moon Roh, President of Samsung Electronics' MX Business Division, stated, "The new product unveiled at next month's Galaxy Unpacked will combine the best mobile experiences and will be the most notable product among all Galaxy S series."

Despite the shortage of component supplies, Samsung Electronics plans to focus on flagship product innovation and enhancing differentiated experiences. It will also concentrate on expanding market share by broadening the mid-range 5G smartphone lineup and promoting sales by enhancing customer value of Galaxy ecosystem products. The network business will actively pursue 5G network expansion and new global orders, while continuously strengthening technological competitiveness such as developing core 5G chips.

This content was produced with the assistance of AI translation services.