Samsung Strived During The Pandemic, Its Profit Rose Quite A Bit

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Samsung did really well during the pandemic, it seems, as the company’s profit rose quite a bit. The company has released its earnings guidance for Q3 this year, revealing this information.

According to the provided information, the company is expected to post consolidated sales of KRW 66 trillion ($57 billion). On top of that, it will post an operating profit of KRW 12.3 trillion ($10.63 billion).

Do note that these are not the company’s final numbers, though. This is just an earnings guidance, the final information will be shared later this month, towards the end.

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Samsung did well during the pandemic, as its profit rose quite a bit, it seems

Compared to the company’s operating profit from last year, this is a 58-percent increase. The company’s operating profit in Q3 2019 was KRW 7.78 trillion ($6.73 billion). The sales have jumped YoY as well.

Now, if you’re wondering about the company’s operating profit in Q2 2020, it was KRW 8.15 trillion, so that’s quite a jump as well. It’s not as huge of a jump as the YoY comparison, but still, the company did great.

The company actually beat market expectations, mainly due to higher sales of home appliances, smartphones, and semiconductor chips. We’ll get far more information once the company actually publishes detailed information.

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The company’s more affordable devices probably did better than its flagship ones

The company’s more affordable smartphones likely did far better than its flagship ones. We’ve seen various reports which claimed that the sales of the Galaxy S20 series did not go according to plan.

The Galaxy Note 20 series has not been available for a long period of time to judge its sales just yet, but Samsung may release some information about it. The Galaxy S20 FE could improve the sales of the Galaxy S20 series, though.

The company’s home appliances and semiconductor chips sections probably boosted the company’s profit quite a bit. There are other aspects of the company’s business that might have strived, though, we’ll just have to wait and see what numbers will Samsung announce later this month.

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