Samsung defies corona pandemic with more profit

Due to the robust demand for memory chips in the coronavirus crisis and rising prices, the sudkorean electronics group samsung has earned significantly more money in the second quarter of 2020. The development in the chip business helped samsung to catch the negative impact of the pandemic on the smartphone paragraph. In the third quarter, the sale of smartphones was allowed on the jerking one "stronger product mixes" and the introduction of new flagship models simply put on again a new foldable device, samsung shared on thursday.

The gain rose according to information in samsung’s executive report year-on-year by 7.3 percent to 5.56 trillion WON, converted almost 4 billion euros. In sales samsung recorded a ruckle by 6 percent to 52.97 trillion WON.

Profit driver memory chips

Samsung profited – as already predicted – from the increased demand for cloud services by a strong home office in the corona crisis. Since the beginning of the pandemic, the need for memory chips for data centers and pcs. Accordingly, samsung posted a sales increase in the memory area by 19 percent year-on-year to 14.61 trillion WON. With outlook on the third quarter samsung also spoke of uncertainties, "like the increasing inventory of server customers".

In the IT and mobile communications division including smartphones, samsung posted a revenue growth by 20 percent. However, by efficient cost management, it was simplified to reduce marketing costs to reduce a solid profit, threw it. The operational profit therefore amounted to 1.95 trillion won, after 1.56 trillion WON in the same period of the previous year.

The business with tvs ran on samsung on the other hand. Due to lockdowns in coarse markets and the elimination of gross sports events, fewer televisions were sold. At the same time samsung could also settle more monitors, apparently due to increased home office. /