Stefani
Member
The sudden COVID-19 outbreak has caused great difficulties for mobile phone manufacturers around the world, and industry leader Samsung is no exception.
In its latest report, Samsung said it expects profit to fall in the current quarter as sales of smartphones and televisions decline amid the outbreak, but that the chip business will remain stable. In Samsung's view, while home-work orders and growth related to online learning will support demand for memory chips, the outlook for smartphones and televisions is dim as consumers delay discretionary spending.
Samsung said that while shipments of mobile devices declined from the previous quarter, margins improved and 5G and other high-end models accounted for an increased share of sales.
Samsung's mobile phone sales in China fell as TV panel prices rebounded due to supply disruptions, but its display business lost nearly half of its value to won290bn from a year earlier, it was reported. According to Samsung electronics announced the first quarter of 2020 financial results. The company posted a net profit of 4.89 trillion won ($4 billion) in the first quarter, down 3.1 percent from a year earlier, the data showed.
Samsung's operating profit was won6.44tn compared with won6.23tn in the same period last year, 7.6 per cent higher than analysts' average forecast, while revenue rose 5.6 per cent to won55.32tn. Operating profit in the chip business was 3.99 trillion won in the first quarter, compared with an operating loss of 290 billion won in the display business.
For Samsung, the increase in first-quarter net profit was mainly due to the increase in the price of memory chips. As for the future trend, the price of memory and flash memory did not decline due to the decline in global demand caused by the epidemic, so it is unlikely to see the price of memory and flash memory fall again this year.
In its latest report, Samsung said it expects profit to fall in the current quarter as sales of smartphones and televisions decline amid the outbreak, but that the chip business will remain stable. In Samsung's view, while home-work orders and growth related to online learning will support demand for memory chips, the outlook for smartphones and televisions is dim as consumers delay discretionary spending.
Samsung said that while shipments of mobile devices declined from the previous quarter, margins improved and 5G and other high-end models accounted for an increased share of sales.
Samsung's mobile phone sales in China fell as TV panel prices rebounded due to supply disruptions, but its display business lost nearly half of its value to won290bn from a year earlier, it was reported. According to Samsung electronics announced the first quarter of 2020 financial results. The company posted a net profit of 4.89 trillion won ($4 billion) in the first quarter, down 3.1 percent from a year earlier, the data showed.
Samsung's operating profit was won6.44tn compared with won6.23tn in the same period last year, 7.6 per cent higher than analysts' average forecast, while revenue rose 5.6 per cent to won55.32tn. Operating profit in the chip business was 3.99 trillion won in the first quarter, compared with an operating loss of 290 billion won in the display business.
For Samsung, the increase in first-quarter net profit was mainly due to the increase in the price of memory chips. As for the future trend, the price of memory and flash memory did not decline due to the decline in global demand caused by the epidemic, so it is unlikely to see the price of memory and flash memory fall again this year.
