Samsung closed a great quarter: revenues are galloping, but not thanks to smartphones

Samsung has announced the results of the second quarter of 2022. Although it is not a good time for the smartphone sector, the Korean giant – which can count on a highly diversified business – has closed an excellent quarter . To make the lion’s share, more than consumer electronics, is the division that deals with the production and sale of semiconductors.

Samsung announced revenues of $ 59.1 billion . That’s over 20% year-on-year growth. Profits did well: 10.8 billion, up 12% on an annual basis.

As was strongly imaginable, the MX division , which stands for Mobile eXperience, does not shine. In short, the division that deals with smartphones. The sector is in dire straits and not even Samsung is immune. In any case, revenues increased by 31% on an annual basis, thanks to the moderate success of the new Galaxy S22, but also the poor performance recorded by the market over the course of last year.

Samsung itself puts its hands in front. The executives hinted that the company does not expect a return to pre-pandemic numbers in the immediate future, explaining that the smartphone market is likely to remain stable at current values. “Demand for consumer products, such as smartphones and tablets, but also PCs, is likely to remain weak,” the company executives said. Samsung added that the decline in the PC sector is likely to embrace products for business use soon.