Samsung Electronics has reported its fourth-quarter earnings. Operating profit was up to 35.99 trillion won ($ 32.1 billion). The company made more money in 2020 than the year before.

Quarterly profit was up 26.4 percent year-on-year, largely driven by display and memory businesses, though the latter was down quarter to quarter. Samsung says its fourth-quarter results were helped by its’company-wide efforts to ensure a stable supply of products and services globally’.

Samsung’s display business had its highest ever quarterly earnings. The company credited high demand from major smartphone manufacturers. Samsung also reduced its losses from larger displays like TVs and monitors.