Samsung Display enjoys record profit on Apple iPhone 14
Ji-Eun Jeong
Jan 31, 2023 (Gmt+09:00)
Samsung Display Co., South Korea’s top display maker, said its profit soared by a third to a record high as it supplied high-end products to Apple Inc. for the iPhone 14 Pro.
Samsung Display, a unit of the world’s largest smartphone maker Samsung Electronics Co., on Tuesday reported an operating profit of 6 trillion won ($4.8 billion) in 2022, up 33.4% from the previous year, with sales rising 8.4% to 34.4 trillion won.
Its operating profit margin stood at 17.3%, the highest among all Samsung Electronics units.
For the fourth quarter of last year, Samsung Display’s profit surged 38.6% to 1.8 trillion won from a year earlier as sales grew 2.8% to 9.3 trillion won. The profit was also at an all-time high for a three-month period.
IPHONE 14 PRO
Such strong performance came as the company supplied low-temperature polycrystalline oxide organic light emitting diode (LTPO OLED) panels, high-value-added products for Apple’s iPhone 14 Pro.
Samsung Display was estimated to have provided 70% of the iPhone 14 Pro’s displays, according to industry sources in Seoul.