We're at the end of July, which means most major companies are releasing their quarterly financial earnings reports. We've already seen what AMD and Intel had to say this week and now today, Samsung has also revealed its results.
As reported by Samsung, the company make £34 billion in consolidated revenue over the course of Q2 2020, which amounts to £5.2 billion in operating profit. Samsung attributes this to higher demand and cost optimisations, which have recovered since an initial drop in May, partially due to the coronavirus spread.
Samsung said that it expects to see a continuation in the gradual recovery in demand for mobile and consumer electronics during the second half of 2020. However, the company also acknowledges that “risks remain due to persisting uncertainties from COVID-19 and growing competitions”.
Moving forward Samsung said that it will focus on key products such as “high-resolution sensors and 5G system-on-chips (SoCs)”.
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KitGuru Says: Samsung ranks as the company with the 15th highest revenue in the world. Do you think Samsung will continue to grow in the foreseeable future?