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Samsung posted record fourth-quarter revenue driven by a demand for its computing chips, which help power much of the video game industry.
The Korean tech giant generated $63.7 billion in revenue in Q4 2021, up from $55.33 billion for the same period the year prior. The world’s largest chipmaker reported record revenue despite challenges linked with supply chain issues and COVID, which are expected to continue.
Full-year revenue reached a record $232.5 billion, up from $212.82 billion in FY2020.
Samsung has been proactive in establishing a presence in the gaming and chip industries.
Samsung has been willing to spend more than its competitors to improve its semiconductor business. The company reported an industry-leading $36.3 billion in semiconductor capital expenditure in FY2021 due to the acquisition of tools to expand chip and memory production.
Last August, Samsung said it would upgrade the chip in its Galaxy Watch series, which includes the fitness-focused Galaxy Active line. The company has planned to build a new $17 billion semiconductor factory outside of Austin, Texas, to facilitate production of its computing products.
Construction begins this year on the factory, which is slated to open in 2024.
Savvy Gaming Group has purchased esports companies ESL and FACEIT for a combined $1.5 billion to form the ESL FACEIT Group
Total consumer spending on game sales in the U.S. reached a record $60.4 billion in 2021, an 8% increase compared to the same period last year.
Dream Games, the company behind the hit gaming title “Royal Match,” has raised $255 million for a valuation of $2.75 billion.
PlayStation 5 game consoles have been in short supply and extremely hard to find, but Sony has devised a solution.
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