Samsung records its highest yearly revenue to date in 2021

Samsung recorded its highest annual revenue ever in 2021 thanks to the strong demand for memory chips.

Samsung said on Friday in its latest earnings guidance it recorded 13.8 trillion won in operating profit and 76 trillion won in revenue during the fourth quarter of 2021.

It is an increase of 52.5% and 23.5%, respectively, from the same time period a year prior.

South Korean analysts expect Samsung's chip business to have contributed the most to the high earnings. The business unit is expected to report its best performance to date from strong demand for memory chips, according to analysts. 

Solid performance from the South Korean tech giant's mobile business, thanks to the increasing popularity of its foldable phones, is also expected to have contributed to the growth.

The fourth quarter earnings announcement brings Samsung's full-year performance for 2021 to 51.57 trillion won in operating profit and 279 trillion won in revenue.

The annual revenue figure is the company's highest to date, while annual operating profit is an increase of 43.3% from 2020.

Samsung's previous best annual performance was in 2018, when it recorded 243.77 trillion won in revenue and 58.89 trillion won in operating profit -- still its best operating profit figure to date -- thanks to unprecedented demand for memory chips.

The company is expected to announce its full earnings report for the fourth quarter of 2021 later this month.

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