Asian Tech Press - On Thursday, Samsung Electronics announced its financial results for the second quarter of 2021, which ended on June 30, 2021. The earnings report showed that the company's revenue for the second quarter was 63.67 trillion won, up 20 percent year-on-year.

The semiconductor business reported revenue of 22.74 trillion won and an operating profit of 6.93 trillion won. The display panel business accounts for 6.87 trillion won revenue, and 1.28 trillion won operating profit. The IT and mobile communications division had revenue of 22.67 trillion won and an operating profit of 3.24 trillion won. The consumer electronics division, which consists of the visual display and digital home appliance businesses, reported revenue of Operating profit was 1.06 trillion won on revenue of 13.4 trillion won in the consumer electronics segment, which consists of visual display and digital home appliance businesses.

The company said earnings in its semiconductor business improved significantly as memory shipments exceeded previous expectations and prices rose more than expected, while the company strengthened its cost competitiveness.

In the display panel business, the mobile panel business is expected to improve as major customers launch new flagship models. The company will focus on completing the mass production process for quantum dot displays and start shipping them during the year.

In the second quarter of 2021, the company reported a net profit of 9.63 trillion won, up 73.4% year-on-year, and an operating profit of 12.57 trillion won, up 54.3% year-on-year and 34% sequentially.