Samsung enjoys record €390 million turnover in Portugal
For the first time Samsung Portugal has lifted the veil on its accounts to show that in 2021 it enjoyed a record €360 million turnover.
The European subsidiary – the oldest in Europe – of the South Korean electronics technology giant, expects to close 2022 with a turnover of €400 million.
According to Jornal Económico, its turnover grew 7% in 2021 in like-for-lime terms which “meant a historic record in Portugal” said Nuno Parrera, from the company’s mobile division.
“In 2021 we achieved close to €400 million, which meant a record for Portugal” he told Lusa new agency. In 2020 Samsung’s turnover had been €365.8 million.
Samsung’s mobile phone share in terms of its total products sold in Portugal is “over 50%” while its mobile share of the Portuguese market vis-a-vis its competitors for the third quarter of 2021 stands at 41% “a remarkable growth” on 2020” adds Nuno Parreira who expects that fourth quarter results will only bolster and even increase its market share.
Samsung, which celebrates 40 years in the Portuguese market in September, says it intends to invest around €175Bn world-wide over the next three years.