Samsung Electronics' Q2 earnings rose 23.48% y/y to US$ 6.8 bil. despite COVID-19
- 4 years ago
삼성전자 2분기 영업이익 8조1463억원…작년 대비 23.5%↑
Let's start with the big business news of the day.
Despite the tough economic situation,... South Korean tech giant Samsung Electronics still managed to turn a profit in the second quarter of this year.
While there's still uncertainty from COVID-19, the company also expects to see solid demand for some of its main products in the second half of 2020.
Kim Sungmin reports.
Samsung Electronics' earnings for the second quarter of 2020 amounted to around six-point-eight billion U.S. dollars.
That is the largest operating profit since the last quarter of 2018.
The South Korean tech giant said that while its total sales were down some 5-point-6 percent on-year amid COVID-19, its operating profits were up 23-and-a-half percent.
Samsung says this was largely driven by the increased profitability of memory chips and displays..., along with high demand for the IT products people have been using during lockdowns.
According to Samsung, the operating profits from semiconductors made up around 67% of the total profits.
Also, sales of mobile phones and home appliances, which were expected to see a huge drop in demand, had better sales than expected.
The operating profits for mobile phones came to around 1-point-6 billion US dollars..., a 25% increase from the same period last year.
For the latter half of 2020, Samsung says it expects demand to rebound on products like smartphones while seeing firm demand for memory chips with the release of new mobile and game console models.
The company also aims to improve earnings in the following quarter by cutting production costs and improving efficiency.
However, it says the pandemic remains a constant source of uncertainty.
Kim Sung-min, Arirang News
Let's start with the big business news of the day.
Despite the tough economic situation,... South Korean tech giant Samsung Electronics still managed to turn a profit in the second quarter of this year.
While there's still uncertainty from COVID-19, the company also expects to see solid demand for some of its main products in the second half of 2020.
Kim Sungmin reports.
Samsung Electronics' earnings for the second quarter of 2020 amounted to around six-point-eight billion U.S. dollars.
That is the largest operating profit since the last quarter of 2018.
The South Korean tech giant said that while its total sales were down some 5-point-6 percent on-year amid COVID-19, its operating profits were up 23-and-a-half percent.
Samsung says this was largely driven by the increased profitability of memory chips and displays..., along with high demand for the IT products people have been using during lockdowns.
According to Samsung, the operating profits from semiconductors made up around 67% of the total profits.
Also, sales of mobile phones and home appliances, which were expected to see a huge drop in demand, had better sales than expected.
The operating profits for mobile phones came to around 1-point-6 billion US dollars..., a 25% increase from the same period last year.
For the latter half of 2020, Samsung says it expects demand to rebound on products like smartphones while seeing firm demand for memory chips with the release of new mobile and game console models.
The company also aims to improve earnings in the following quarter by cutting production costs and improving efficiency.
However, it says the pandemic remains a constant source of uncertainty.
Kim Sung-min, Arirang News