Samsung registers profit increase during coronavirus pandemic

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Samsung released on Tuesday (7) a preview of the company’s quarterly financial report, which will be released in full at the end of the month. As it involves the company’s performance in the first months of 2020, it must show the financial impacts of the start of the new coronavirus pandemic on the giant’s production and sales.

At least for now, the effects don’t seem too serious. According to the company, sales are expected to total 55 trillion won (about RR $ 233.86 billion in direct currency conversion), with operating profit of 6.4 trillion won (approximately R $ 27.2 billion). Both figures are better than those presented in the same period last year – an annual increase of 5% and 2.7%, respectively.

It is worth mentioning that both margins are slightly lower than in the last quarter of 2019 – which naturally presents higher values, since it includes the end of the year parties and Black Friday.

What happened?

As the company has not yet detailed which divisions were most responsible for the increase in numbers, it is still not possible to draw a more accurate diagnosis. However, according to CNBC, analysts suggest that the memory chip unit is one of the most successful in the period. After all, there are more people at home, working or just spending time in social isolation, which has increased the demand on servers, data centers and hardware for cloud computing in general.

The cell phone division is also expected to have some impact, perhaps reflected in the next quarter. And this must occur not only due to the partial closure of stores and factories around the world for a few weeks, but also due to possible changes in consumer habits after the pandemic.