Galaxy S21 series sales cause 44% profit surge for Samsung | Editorji
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Galaxy S21 series sales cause 44% profit surge for Samsung

Apr 07, 2021 13:40 IST | By Editorji News Desk

According to a Bloomberg report, Samsung's profits rose by 44% for Q1 2021, driven primarily by strong sales of the Galaxy S21 series of smartphones.

Samsung reported $8.3 billion in operating income for the quarter, boosted by the early launch of the Galaxy S21 flagship series in January, which outsold the Galaxy S20 series by a two-to-one margin, according to Counterpoint Research. In total, Samsung shipped 76 million smartphones in the first quarter of this year, a 25% increase from last quarter.

Booming smartphone sales helped Samsung overcome losses caused by the shutdown of one of its RAM-production factories in Austin, Texas, due to a power grid failure.

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