
Samsung Electro-Mechanics, the electronic parts subsidiary of Samsung Electronics, said its annual revenue hit a record high last year, exceeding 10 trillion won ($6.99 billion) for the first time in the company’s history.
The company said its revenue was 10.29 trillion won in 2024, up 15.8 percent from 2023.
Its operating profit rose 11.3 percent from a year earlier to 735 billion won, driven by an expansion in the supply of high-value products.
The company said booming demand for premium components, such as automotive multilayer ceramic capacitors (MLCCs) and flip-chip ball grid array (FC-BGA) substrates for server semiconductors, contributed to the strong earnings.
For the fourth quarter alone, the firm posted an operating profit of 115 billion won, up 0.7 percent on-year. Revenue reached 2.49 trillion won, up 8.4 percent from the same period in 2023.
The components division, which handles MLCCs, posted revenue of 1.08 trillion won, up 11 percent on-year, but a 10 percent decline from the third quarter.
The package solutions division reported revenue of 549.3 billion won for October-December, up 24 percent from the same period in 2023. However, quarterly sales fell 2 percent due to inventory adjustments in the smartphone market, it explained.
Meanwhile, the optical solutions division, which is in charge of camera modules, logged 861.2 billion won in sales, a 2 percent decline on-year. Year-end inventory adjustments by automotive customers ahead of new model launches were cited as the reason.
The company projects double-digit growth in profit for the first quarter of 2025, driven by strong demand in the artificial intelligence and automotive markets.
“We plan to strengthen our lineup of high-value products, including MLCCs and package substrates for AI servers, as well as MLCCs and camera modules for automotive, while continuing to diversify customers and expand supply,” a Samsung Electro-Mechanic official said.
By Ahn Sung-mi (sahn@heraldcorp.com)