Samsung Posts Record Revenue Behind Gaming

    • Samsung is powering the video game industry.
    • The Korean tech giant has posted record profits behind gaming.

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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.