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Samsung Electronics Expects Weaker Performance in Q2

Written: 2020-04-29 11:24:40Updated: 2020-04-29 13:15:50

Samsung Electronics Expects Weaker Performance in Q2

Photo : YONHAP News

Samsung Electronics says while it fared relatively well in the first quarter despite the COVID-19 pandemic, it expects a weaker performance in the second quarter. 

The electronics giant announced on Wednesday that its operating profit was tentatively estimated to stand at six-point-four trillion won in the January-March period, up three-point-four percent from the same period last year. It is also slightly higher than an estimate released earlier this month. 

During that time, Samsung Electronics saw its sales surge five-point-six percent on-year to 55-point-three trillion won thanks to a rise in demand for servers and personal computer parts. Its net profit, on the other hand, slipped some three percent to around four-point-nine trillion won. 

Meanwhile, the tech giant said it expects a weaker performance for the second quarter as demand for its key products is set to take a hit due to the pandemic. While demand for semiconductors and displays may remain strong, demand for mobile devices is expected to drop.

Samsung projected that the second half of the year will continue to witness uncertainties related to the coronavirus.

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