Samsung’s Record-Breaking Revenue Figures for 2023-24

Samsung smashes revenue records and soars to a US$600 billion

Samsung Electronics Co., Ltd. has achieved remarkable success in the fiscal year 2023-24, marked by record-breaking revenue figures. The company's net worth and revenue in each sector are indicative of its robust performance and influence in the global market. Samsung's net worth is estimated to be around US$300 billion, reflecting its financial strength and market value. The company's revenue is diversified across various sectors.

Samsung's revenue breakdown by business segment is as follows:

IT & Mobile Communications (IM): This segment, which includes smartphones, tablets, wearables, and network equipment, recorded a revenue of KRW 117.72 trillion (about $92.8 billion), a 12.1% increase from the previous year, and an operating profit of KRW 18.62 trillion (about $14.7 billion), a 25.6% increase of the prior year. The segment benefited from the strong sales of its flagship Galaxy S and Note series, as well as its mid-range and low-end models, especially in emerging markets. The segment also saw growth in its network business, driven by the expansion of 5G services worldwide.

Consumer Electronics (CE): This segment, which includes TVs, monitors, refrigerators, washing machines, and air conditioners, recorded a revenue of KRW 54.95 trillion (about $43.3 billion), a 9.4% increase from the previous year, and an operating profit of KRW 6.45 trillion (about $5.1 billion), a 23.9% increase of the prior year. The segment enjoyed a high demand for its premium products, such as QLED and OLED TVs, large-sized monitors, and smart appliances, as well as its online and contactless sales channels. The segment also improved its profitability by optimizing its product mix and enhancing its operational efficiency.

Device Solutions (DS): This segment, which includes memory chips, system LSI, foundry, and display panels, recorded a revenue of KRW 81.74 trillion (about $64.4 billion), a 9.1% increase from the previous year and an operating profit of KRW 27.96 trillion (about $22 billion), a 32.4% increase of the prior year. The segment saw strong demand for its memory products, especially DRAM and NAND, from various applications, such as servers, PCs, smartphones, and game consoles. The segment also increased its sales of its system LSI and foundry products, such as application processors, image sensors, and logic chips, by expanding its customer base and product portfolio. The segment's display panel business also improved its profitability by focusing on its premium products, such as OLED and QD display