Samsung announced its results for the second quarter of 2022. While it is not a good time for the smartphone sector, the Korean giant – which can count on a highly diversified business – has a great quarter. Making the lion’s share, beyond consumer electronics, is the division engaged in semiconductor manufacturing and sales.
Samsung announced revenue of $59.1 billion. That is an annual growth of more than 20%. Earnings fared well at 10.8 billion, up 12% year-on-year.
As was highly imaginable, it is there that does not shine MX division, which stands for Mobile eXperience. Basically, the division that deals with smartphones. The sector is in dire straits and even Samsung is not immune. In any case, revenues were up 31% year-on-year, thanks to the moderate success of the new Galaxy S22, as well as poor market performance over the course of last year.
Samsung is rolling up its sleeves itself. The executives hinted that the company does not expect a return to pre-pandemic numbers in the near future, explaining that the smartphone market is likely to remain stable at current values. Demand for consumer products, such as smartphones and tablets, as well as PCs, is likely to remain weak. Samsung added that the decline in the PC sector is likely to embrace business-use products soon.
Source: Lega Nerd
