Samsung Electronics' operating profit increased 53.3% in the fourth quarter of 2021, driven by record annual sales.
According to Arab Net, the world's largest smartphone maker said its operating profit rose to 13.87 trillion won ($11.55 billion) from October to December in 2021, up from 9 trillion won in the same quarter the previous year.
And the South Korean tech giant added in a statement that the company achieved record sales thanks to competitive products, despite the continuing uncertainty, noting the strong demand for sales of premium smartphones, according to AFP and seen by Al Arabiya.net.
While the coronavirus pandemic has wreaked havoc on the global economy, it has helped many technology companies thrive.
Working from home due to the pandemic has increased the demand for devices powered by Samsung chips, as well as home appliances such as televisions and washing machines.
Consumer demand for high-end products such as foldable phones has also helped boost profits during the holiday season.
