Samsung Display enjoys record profit on Apple iPhone 14

Samsung Display Co., South Korea’s top display maker, said its profit soared by a third to a record high as it supplied high-end products to Apple Inc. for the iPhone 14 Pro.

Samsung Display, a unit of the world’s largest smartphone maker Samsung Electronics Co., on Tuesday reported an operating profit of 6 trillion won ($4.8 billion) in 2022, up 33.4% from the previous year, with sales rising 8.4% to 34.4 trillion won.

Its operating profit margin stood at 17.3%, the highest among all Samsung Electronics units.

For the fourth quarter of last year, Samsung Display’s profit surged 38.6% to 1.8 trillion won from a year earlier as sales grew 2.8% to 9.3 trillion won. The profit was also at an all-time high for a three-month period.

IPHONE 14 PRO

Such strong performance came as the company supplied low-temperature polycrystalline oxide organic light emitting diode (LTPO OLED) panels, high-value-added products for Apple’s iPhone 14 Pro.

Samsung Display was estimated to have provided 70% of the iPhone 14 Pro’s displays, according to industry sources in Seoul.

Its parent Samsung Electronics reported slower sales of smartphones, but Samsung Display secured profitability by increasing supplies of panels for foldable smartphones, which are more expensive than other displays.

Write to Ji-Eun Jeong at jeong@hankyung.com
Jongwoo Cheon edited this article.