Samsung Electronics Co. announced that its total revenue in the fourth quarter of 2024 came in at 75.8 trillion won (around $52.5 billion), representing an annual increase of 12%.
The company's operating profit reached 6.5 trillion won (about $4.5 billion), up from last year's 2.82 trillion won. The figure dropped 30% from last quarter's 9.18 trillion won. Net profit stood at 7.8 trillion won. For the full fiscal year 2024, the company reported 300.9 trillion won in revenue, up 16%, with an annual operating profit of 32.7 trillion won.
"Although fourth quarter revenue and operating profit decreased on a quarter-on-quarter (QoQ) basis, annual revenue reached the second-highest on record, surpassed only in 2022. Meanwhile, operating profit was down KRW 2.7 trillion QoQ, due to soft market conditions especially for IT products, and an increase in expenditures including R&D," Samsung said in a statement.