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Samsung achieves a surge in its operating profit

Samsung achieves a surge in its operating profit

Samsung Electronics said, Thursday, that its operating profit for the fourth quarter jumped 46 percent compared to the same period of the previous year, driven by an increase in sales of smartphones and televisions as its business continues to thrive amid the epidemic.

The South Korean giant said its quarterly revenue of 6539 trillion won ($ 59 billion), the highest in the first three months of this yearThe company’s operating profit would have been 938 trillion won (8$ 5 billion) higher, were it not for the underperforming semiconductor business, which was affected by a storm-related shutdown at the company’s chip plant in Austin in February, and lower prices for NAND memory chipsSamsung said it expects its chip business to rebound during the current quarter, driven by strong demand for servers and the resumption of full operations at its Austin plant.

However, the company expects its mobile device profits to decline during the current quarter due to a shortage of some components and a slowdown in sales of its flagship smartphones.

Samsung stated that its trade in televisions could benefit from major sporting events, such as the European Football Championship 2020 and the Summer Olympic Games in Tokyo, but the continued spread of the Corona virus and the closures create doubts.

The company said that global demand for its televisions may slow in the second half of the year, due to “a shift in demand from home entertainment to outdoor activities, as more countries reach herd immunity”, as their residents are vaccinated.

Samsung added in a statement: “In the second half, market conditions are expected to improve in terms of component trading as the company continues to expand its leadership in technology and products.

However, global macroeconomic risks, including uncertainty about demand related, are likely to persist.

With (Covid 19) “

Samsung achieves a surge in its operating profit
Samsung achieves a surge in its operating profit