Dubai, United Arab Emirates – South Korea’s most valuable company by a landslide, Samsung Electronics, has introduced a white paper which presents the company’s vision for attaining global frequency bands for 6G communications technology. The technology chief noted that its sophisticated 6G technology improves the coverage & quality of high-rate data signals by a whole 1.9 times, ensuring energy savings of more than 10%, among other improvements.
It is then no surprise that Asia’s 4th most valuable company today, as seen on Alpho’s Top 20 Asian Brands, announced growing results in the first quarter of 2022. Samsung’s profits topped consensus expectations, generating 14.1 trillion won ($11.6 billion) in profits, which is a cool $1.2 billion above average analyst expectations. This quarterly profit marks the company’s highest first-quarter profit since 2018. The success can be attributed to high demand and increasing shipments of memory chips, priced favorably for Samsung.
It’s worthy to first note the 2021 fourth-quarter results of Samsung. The company recorded a 53% escalation in year-over-year operating profits, as record sales of devices powered by Samsung’s semiconductor chips aided the electronics tycoon in overcoming the pandemic-fueled supply chain obstacles. In the October to December 2021 period, Samsung enjoyed significant success “thanks to competitive product, despite continuing uncertainty”, as said by the company in a statement.
People working from home due to national lockdowns and mobility restrictions have evidently boosted the demand for Samsung’s products, including smartphones, televisions, and washing machines; all powered by Samsung’s semiconductor chips. The COVID-19 pandemic created chaos in the global economy, but has played an important role in the boom of Samsung and other tech companies.
A firm that was founded in 1938 as a grocery store is, as of mid-2022, the multinational conglomerate with over 250 subsidiaries is worth more than $350 billion, and is not only the largest firm in South Korea, but is considered the 19th most valuable company on the global stage with over 280,000 employees around the world.
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*Source: AETOSWire
