Samsung expects strong earnings growth for the final quarter of 2020


        Thanks to the robust demand for memory chips for servers and computers in the corona pandemic, the electronics giant Samsung expects a significant increase in operating profit for the final quarter of 2020 as well.        </p><div>
        <p>The profit from the core businesses is expected to increase by 26 percent year-on-year to 9 trillion won (about 6.7 billion euros) in the fourth quarter, the South Korean company announced on Friday.</p>            

That would also be a decrease of 27 percent compared to the previous quarter, when especially urgent orders from the Chinese telecommunications supplier Huawei for chip deliveries had brought the South Koreans an increase. Huawei is subject to US sanctions.

In terms of sales, Samsung expects an increase of 1.9 percent to 61 trillion won for the past quarter. As usual, the group will only present more precise business figures at a later date. Samsung is the market leader in memory chips, smartphones and televisions.

Last year, Samsung mainly benefited from the increase in internet traffic as a result of the pandemic. As a result, the demand for memory chips for servers and PCs has increased significantly since the beginning of the crisis, as more people work from home. The company makes the most money by far from memory chips. Looking ahead to this year, Samsung had forecast solid growth in “mobile demand”, which is likely to further boost chip demand.

                            Source: dpa                            </span>


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Samsung expects strong earnings growth final quarter


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