Earlier today, we learned how to, Huawei was the world’s largest smartphone manufacturer in Q2, while the LG-Mobile keeps losing ground. Samsung also released its financial report for Q2 of 2020, and in spite of the decline of the lead in the smartphone race, as the overall numbers are very good. As the profit grew, both sequentially and on an annual basisdue to the strong demand for memory chips, while the Mobile business also reported improved operating profit, despite a 20% drop in sales.
The IT & Mobile Communications Division posted KRW20.75 trillion ($17.3 billion) in consolidated revenue, and KRW1.95 billion ($1.63 billion) in operating profit between April and June, an increase of 25% from Q2 of 2019.
Lock-in major markets such as North America and Europe, and, as a result of a decline in demand, the k-o-k, but as a result of efficient cost management, the reduction of the cost of marketing, and offline promotions; Samsung’s managed to stay alive and something positive to show for it.
Over the next three months should see even better performance with its upcoming Galaxy Unpacked event on August 5, in the H2 flagships. Samsung expects the total market to show a gradual recovery, but the uncertainties continue to be upset with the question.
Investments in the Networks Business at Samsung have slowed down in the domestic and foreign markets. There are still a number of uncertainties about the 5G services Samsung said it will “continue to explore new opportunities for expansion, which means that it will try its best to do it, but don’t hope for the best.