Samsung and LG’s sales in 2021 are expected to grow 67%: Report

Samsung Electronics and LG Electronics are expected to achieve record sales in 2021. On December 29, a Korean brokerage reported that Samsung Electronics’ sales in the fourth quarter were expected to reach 75.26 trillion won, and operating profit was 15.07 trillion won.

In addition, operating profit is expected to grow 67% over the same period last year. Brokerage firms predict that Samsung’s total revenue in 2021 will reach 278.67 trillion won, a record high. Operating profit is also expected to reach 52.83 trillion won.

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As for LG Electronics, South Korean brokerages expect the company’s Q4 sales in 2021 to reach 19.67 trillion won and operating profit to reach 831.3 billion won; LG’s annual revenue is expected to reach 73.70. Trillion won, and profit reached 4 trillion won. However, LG Group’s profit in 2021 will be affected by the recall of Chevrolet Bolt car batteries.

A researcher from South Korea’s Dashin Securities predicts that Samsung Electronics is expected to benefit from the booming demand for DRAM in 2022 and achieve further growth in turnover. LG Electronics is expected to increase production capacity in the first half of 2022, alleviating the problem of global automotive core shortage.

(VIA)