South Korea’s leading electronics companies, Samsung 삼성 and LG, both reported record sales for the previous quarter. Samsung Electronics reported revenue of KRW 74t (USD 63b) and profit of KRW 15.8t (USD 13.5b) for 3Q 2021.
Samsung has been the world’s leader in smartphones since 2011, with over 20% of the global market share. Samsung is also the world’s leader in memory chips with 42.9% of the global market share.
Meanwhile, LG Electronics also set a new record on quarterly revenue with KRW 18.8t (USD 16b) for 3Q 2021, thanks to a strong performance in its high-end home appliances including refrigerators, dishwashers and steam cleaners.