Highlights

Samsung Electronics Announces First Quarter 2020 Results

Global tech giant, Samsung, has revealed its first-quarter earnings report today, stating that it expects the COVID-19 pandemic to continue impacting its business for the rest of the year.

Total revenue was KRW 55.33 trillion, a decrease of 7.6% from the previous quarter mainly due to weak seasonality for the Company’s display business and Consumer Electronics Division and partially due to effects of COVID-19.

From a year earlier, revenue rose 5.6% due to increasing demand for server and mobile components.

The company further went on to speak on how the pandemic was cutting into sales for smartphones and TVs, but however, creating an increase in the demand for PCs, servers and memory chips as people continue to work or study from home.

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