Samsung Q2 profit up 12 percent due to Galaxy S22, Tab S8 series

Samsung reports its supply chain issues were largely resolved in Q2

As large tech companies report losing revenue this quarter, Samsung stands out for doing the opposite.

The company has increased its revenue by 12 percent this quarter compared to last year. Samsung points to its DX division, which covers digital appliances, health equipment and more, for its success.

The company also says it had “solid sales” for devices in its Galaxy S22 and Galaxy Tab S8 series.

However, the company acknowledges overall market demand declined compared to the first quarter of the year because of geopolitical issues and inflation. But Samsung says the supply chain issues it experienced in the first quarter “were mostly resolved in the second quarter.”

In June, the company announced it started producing 3-nanometre microchips (nm), outpacing rival TSMC, which makes chips for Apple devices. Compared to 5nm, the first generation of 3nm reduces power consumption by 45 percent and improves performance by 23 percent.

The company released the second quarter results as it’s gearing up for its Unpacked event on August 1oth. The occasion will feature the foldable Z series lineup, the Watch 5 series, and many other gadgets. You can read MobileSyrup’s article on what to expect here.

Image credit: Shutterstock

Source: Samsung

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