Samsung Posts Record Revenue Behind Gaming

Samsung helps power much of the video game industry, leading to unprecedented profits for the world’s largest chipmaker.

The Korean tech giant will be investing $206 billion over the next three years, with a focus on the chip production so essential to its business.

• Last year, it signed a multimillion-dollar deal with Nvidia to manufacture chips for the PC hardware and gaming company.
• The company agreed to a strategic partnership in June with AMD to produce graphics cards geared toward gamers.
• It partnered with Nintendo to produce the new OLED Switch, which features a Samsung-made panel.

Samsung posted record third-quarter revenue of $63 billion this year, a 10% increase compared to a year prior. The company saw profits reach $13 billion in Q3, a 26% increase year-over-year.

The results were driven by Samsung’s semiconductor division, which benefited from demand for computing chips amid a global shortage. The segment nearly doubled its operating profit to $8.6 billion, up from $4.8 billion in Q3 2020.

In August, Samsung said it is planning on mergers and acquisitions to build its position in the technology sector. The company hasn’t made a major acquisition in four years.