Samsung’s revenue of $57.34 billion in the third quarter of 2024

In the financial report of the third quarter of 2024, Samsung Electronics announced the significant growth of its profit and income. However, the Korean tech giant still faces challenges in the memory chip segment.

According to this report, Samsung recorded an income of 57.34 billion dollars and a profit of 7.3 billion dollars during this period. These figures respectively show a 17.3% increase in income and a significant 72.8% increase in profit compared to the same period last year.

Samsung’s mobile division has also performed brilliantly and has experienced double-digit sales growth. The successful launch of new series smartphones, tablets and smartwatches has played an important role in this growth. Also, increased demand for Samsung’s high-quality OLED panels, especially in Apple’s iPhone 16 series phones, has helped improve the segment’s performance.

Despite the company’s overall profit growth, Samsung’s memory chip division continues to experience volatility. Although the profit of this segment has improved compared to the previous period, it has grown less compared to other segments. The decrease in demand for memory chips is one of the main reasons for this challenge.

With the aim of increasing profitability, Samsung is focused on selling high-end products and expanding its product ecosystem. The company also expects to boost the performance of its home appliances and TV segment with improved demand during the holiday season.