Samsung’s Galaxy S22 lineup sells like hotcakes despite all that inflation
With rising costs of living and global uncertainties this year, many tech companies are struggling to keep up with their sheer infinite growth of the past. Even Facebook (or Meta if you will), Apple, and Intel, all incredibly profitable companies, didn’t have as rosy numbers as expected in Q2 2022. For Samsung, matters are different, though. It looks like the company’sbest productslike theGalaxy S22 lineupand theTab S8series sold like hotcakes — one of the things that help it shake off any of the supply and demand issues plaguing the tech industry.
In itsquarterly earnings report, Samsung shares that its profits are 12% up compared to the same time frame last year. The company mostly pins this down to success in its chip and its broader DX division, which comprises things like displays, business-focused products, and medical equipment. However, the company also specifically mentions its success in the Android market with devices like the Galaxy S22 and the Tab S8 — both products we highly praised in our reviews.
These good numbers come in after reports of Samsung stockpiling various mid-range and entry-level phones in warehouses around the world, making clear that the company is having a harder time selling products to more budget-minded folks. This isn’t necessarily a coincidence, though. In a closed-door meeting of executives during CES 2022, Samsung was reportedly looking intocompeting head-to-head with Apple this yearrather than focus on flooding the market with cheaper devices. It seems like this strategy is already starting to pay off.
The good numbers stand in stark contrast to a recent incident related to DRAM production problems that threw investors in a panic,selling a lot of their Samsung stock. This led the company’s stock to fall to its lowest price ever in the last 22 months. The numbers are looking better again, though, and the Q2 reports could make them climb even further.
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