Samsung Electronics reported its financial results for Q3 2022, with its highest quarterly revenue ever (76.78 trillion Won, or $54 billion USD) and an operating profit of 10.85 trillion won ($7.7 billion USD), down 23% from the previous quarter.
Samsung Display saw record revenues (9.39 trillion Won) as demand increased for its OLED mobile panel business following the release of new flagship smartphones. The company expects to see continued strong demand for premium OLED displays.
SDC says it will increase its sales of OLED displays for IT, automotive and gaming devices, and expand its QD-OLED business with new customers and enhanced performance.
During the company's conference call, SDC says that it has been enjoying its performance advantage to increase OLED market share. But the company is highly concerned regarding the next quarter and the next year, as it is starting to become a very challenging market. But SDC is confident its performance advantages and experience will enable it to continue to deliver strong results even in challenging markets.
Regarding its microLED business, Samsung Electronics says that it aims to increase sales of its microLED TVs in 2023, continue to expand its product range with more TV sizes and it will provide a "differentiated customer experience".
