Samsung expects profit record in the third quarter of 2020

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Samsung shared its revenue guide for the third quarter of 2020. The South Korean company predicts that it has closed the quarter, which includes the months of July and September, with huge profits. Samsung’s consolidated sales revenue during this period is expected to be 66 trillion won and operational profit 12.3 trillion won.

It should be noted that these numbers are above market expectations. Operation profit shows a 58 percent increase compared to the same period of the previous year. The South Korean company had completed that period with 7.78 trillion won profit.

It was stated that in this period, sales of Samsung’s home products increased and the demand for semiconductors was high. It was stated that the Galaxy A series was the driving force in smartphone sales, and the Galaxy Note 20 series followed this series.

It was stated that the reduction of the offline marketing budget due to the global coronavirus epidemic was also effective in the increase in profitability.

Samsung emphasized that the increase in demand for display and circuit chips in the past period also played an important role in the resulting picture. The company is expected to share its full financial report next week.

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