For the first time, Samsung surpassed $230 billion in sales

On March 15, Samsung Electronics held its 54th regular shareholders’ meeting where it announced that the company surpassed $230.62 billion in sales for the first time in 2022. Despite a continuous market downturn, the company created a new record, which is satisfying for the shareholders.

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According to Vice Chairman Jong-Hee Han, CEO, despite the difficult environment last year, Samsung Electronics exceeded 300 trillion won (~ $230.62 billion) in sales for the first time thanks to the efforts and encouragement of many people, breaking the record for two consecutive years.

It’s worth mentioning that the Korean tech giant is facing a serious drop in its foundry business due to low demand and yield concerns. Samsung mobiles are selling well, but the company is now focussing more on the premium segment to increase overall revenue.

In addition, the company announced that it has been steadily preparing the foundation for sustainable growth through strategic facility investment and strengthening research and development (R&D) and focused on further solidifying its leadership in the industry.

Samsung is making efforts to contribute to the realization of sustainable daily life for customers with products and services based on innovative technologies. We will communicate with stakeholders, including shareholders, about sustainability management achievements and challenges. – Said Vice Chairman Jong-Hee Han.

Last but not least, Samsung Elec VC Han emphasized “concentration on the essence” and strengthened his resolution for this year’s management. The official said that “the secret to overcoming the crisis in a difficult environment was the truth of focusing on the essence.”