South Korean technology giant Samsung announced financial figures for the last quarter of 2019 and for the whole of last year. The firm broke a record in terms of earnings in 2019.
2019 has been a pretty good year for Samsung. While the company broke a record in terms of general sales, both its turnover and operating income increased. There was also a serious increase in foreign sales.
Samsung SDS ‘turnover last year was 10,720 trillion Korean won. This is close to $ 9 billion. When the values are analyzed, it can be seen that the company’s turnover has increased by 7% since last year. We can say that the operating profit of the company is 830 million dollars.
Growth of Samsung continues
While Samsung’s strategy to include people who are not already Samsung customers among its customers was successful, the company also managed to achieve a 31% increase in sales in this area. The company generated $ 1,640 billion from work in this area.
The company continues its growth in the smart factory, cloud, information / analysis and solution departments, which are the 4 main information systems departments. The total growth in these areas was more than 30%.
The IT department of Samsung, which gained new customers from various sectors, increased the annual sales by 38% in this sense. The overall profit of the department increased by 10.7%. Among the new customers of the company are companies operating in fields such as automotive, electronics and consumer materials.
Although the company grew in the last quarter of 2019 compared to the previous year, it performed slower than the rest of the year. The slowdown in the processor and display market at the end of the year was already expected.
Samsung’s new strategy is bear fruit
Samsung developed a new strategy in terms of management and called this strategy “Global business expansion as a sustainable growth engine”. In line with this strategy, the company aims to grow in strategic areas in global markets and to find new customers and develop new business models.
Aiming to support its global expansion, Samsung has recently participated in the Consumer Electronics Fair in the USA. The company announced that it had held talks with more than 100 customers and partners at the fair. It is believed that the company will attend the Mobile World Congress, which will be held in Barcelona next month.
Samsung exhibits not only its devices, but also its smart factories and automation solutions. In addition, the company’s work on blockchain technology is also introduced. The South Korean giant aims to make its presence felt in every sector.