The reports say that sales of Samsungs’ chips and displays increased during lockdowns in Pakistan and other parts of the world.
KARACHI: (UrduPoint/Pakistan Point News-July 7th, 2020) samsung recorded rise in profit in business deals in local markets despite serious challenge due to Coronavirus situation in the country, the latest reports said here on Tuesday.
The company witnessed rise in second-quarter operating profit as there was huge demand for memory chips and displays.
The company in its earning estate said that it was hopeful that operating profit to be 8.1 trillion won ($ 6.8 billion) for April-June up from 6.6 trillion won in the same period last year.
The analyst had earlier forecast of a single-digit decline.
Samsung’s chip business data centers increased amid fears of Coronavirus all over the world, especially in Europe and the United States. The data centers moved to stockpile of DRAM chips to meet online demands.
TV sale also witnessed increase as people preferred watching TVs during lockdowns across the world, the reports said.
The firm is the world’s largest smartphone maker, accounting for 20 percent of global market share in the first quarter, ahead of China’s Huawei with 17 percent and Apple on 14 percent, according to Counterpoint.
Global smartphone sales slumped more than 20 percent year-on-year in the first quarter, their worst performance ever, according to market tracker Gartner, as the pandemic hit consumer spending and sparked widespread economic uncertainty.
