Home Business Samsung achieves a stable quarter, supported by memory

Samsung achieves a stable quarter, supported by memory

Samsung achieves a stable quarter, supported by memory

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Samsung Electronics announced Wednesday a turnover of 41.8 billion euros for the first quarter of 2020, up 3.4% compared to 2019. Operating profit reached 4.88 billion euros or an increase of 5.6% in 2019.

Samsung attributes the good results to an increase in demand for memory for servers and PCs. In addition, its mobile activities also increased during the quarter, going from 1.9 billion euros in 2019 to more than 2 billion euros in 2020.

Samsung expects smartphone sales for 2 to drop sharplyth trimester

Sales of samsung smartphones fell slightly in the first quarter of the year with the COVID-19 crisis, but this decrease was offset by an increase in the selling price of Galaxy S20 Ultra for which demand was higher than expected. However, demand should dry up with the globalization of the pandemic.

The group’s consumer electronics activity, including televisions, suffered a loss of more than 16.5%. Samsung expects a continued decline in demand for this type of product due to the cancellation of many world sporting events as well as the postponement of the Olympic Games.

The Korean manufacturer now intends to develop its online sales channels to try to counter the fall in sales in the coming months.

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