Samsung Electronics has reported its fourth quarter and FY 2024 results.
Takeaway Points
- Samsung Electronics has reported its fourth quarter and FY 2024 results.
- For the full year, it reported KRW 300.9 trillion in annual revenue and KRW 32.7 trillion in operating profit.
- On Jan 24, 2024, Samsung announced the use of Galaxy innovation to drive ocean conservation efforts.
What did Samsung announce?
Samsung Electronics on Friday reported its financial results for the fourth quarter and the fiscal year 2024. The company posted KRW 75.8 trillion in consolidated revenue and KRW 6.5 trillion in operating profit in the quarter ended Dec 31, 2024. For the full year, it reported KRW 300.9 trillion in annual revenue and KRW 32.7 trillion in operating profit.
According to the report, the fourth quarter revenue and operating profit decreased on a quarter-on-quarter (QoQ) basis, and annual revenue reached the second-highest on record, surpassed only in 2022.
Samsung in a statement said, “In the first quarter of 2025, while overall earnings improvement may be limited due to weakness in the semiconductors business, the Company aims to pursue growth through increased sales of smartphones with differentiated AI experiences, as well as premium products in the Device eXperience (DX) Division.”
Samsung Uses Galaxy Innovation to Drive Ocean Conservation Efforts
On Jan 24, 2024, Samsung Electronics announced it has expanded its commitment to helping protect the world’s oceans in collaboration with like-minded partners. Building upon its efforts to solve the pervasive challenge of plastic waste by changing discarded fishing nets into a high-quality recycled material used in Galaxy devices.
Stephanie Choi, EVP & Head of Marketing of Mobile eXperience Business at Samsung Electronics, commented, “We initiated our commitment to the world’s oceans when we transformed discarded fishing nets into key components of the Galaxy S22 series, which to date, has incorporated more than 150 tonnes of discarded fishing nets into key components of Galaxy devices. This year, we are furthering our commitment to the oceans by creating purposeful technology that helps protect and restore damaged marine ecosystems around the world.”
Who did Samsung partner with?
Samsung said it is joining forces with the U.S.-based nonprofit organization Seatrees and the University of California San Diego to explore new, innovative solutions for reef restoration. The Galaxy camera technology provided to local coral reef restoration activists and researchers in coastal communities will help their efforts to restore reefs impacted by climate change and pollution through improved monitoring of restoration success.
Michael Stewart, Co-Founder and Director of Seatrees, said, “This partnership represents a collective effort of people and organizations coming together to rebuild hope by restoring ocean ecosystems. By collaborating with Samsung and UC San Diego, we can share their innovative tools to help local communities efficiently restore reefs at scale.”
Dr. Eliah Aronoff-Spencer, Human-Centered Technologist and Director for UC San Diego’s Center for Health Design, remarked, “By building on technology that is both innovative and accessible, this collaboration has the potential to help bridge barriers and simplify the process for research and restoration, enabling more effective science-based stewardship at scale.”
About Seatrees
Seatrees restores and protects coastal ecosystems around the world to reverse climate change, enhance biodiversity, and support local communities. Seatrees uses a science-based approach to regenerate coral reefs, kelp forests, mangrove forests, seagrass meadows and coastal watersheds. Seatrees projects support local community restoration efforts and provide tangible ways for individuals and brands to create a more resilient planet for future generations.
