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Samsung hits the first quarter of 2020 but expects falls for Covid-19

Samsung hits the first quarter of 2020 but expects falls for Covid-19

We can get an idea of ​​the Apple results that will be presented on Thursday 30 April by observing the quarterly reports of Microsoft, Facebook and now also those of Samsung which for the first quarter of 2020 are in line with forecasts, even if the South Korean giant warns that in the current quarter and for the rest of the year the consequences of Covid-19 will be felt.

Turnover of 45.4 billion dollars marks an increase of 5.6%, also the operating profit of 5.3 billion dollars marks an increase of 3.5% compared to the same period last year. By contrast, net profits were down $ 4 billion, down 3.2%. But even if Samsung reaches forecasts and targets in the first quarter of 2020, uncertainties increase due to coronaviruses.

The Galaxy multinational expects a drop in the demand for smartphones from users who, despite the end of the complete lockdowns, are expected to continue with work and leisure habits from home and online, even for the months to come. Samsung expects to sell fewer chips and screens for smartphones and even fewer televisions, although part of the demand for the components will be supported by the memory chips for computers and servers that are expected to be stable.

samsung first quarter 2020

Again with regards to smartphones, the multinational does not exclude that if the impacts and limitations caused by Covidic-19 continue, the telephone operators may decide to postpone investments in 5G technologies. A fear, as reported by CNN, which applies on a global scale but above all for China, the main smartphone market in the world.

According to Samsung, consumers will not rush to buy new 5G terminals also because for the moment there are no apps and innovative uses for this technology, for the limited coverage of the new generation networks and also because the operators probably will not offer contributions for the purchase of 5G terminals. All the macitynet articles that talk about Samsung are available from this page.

For all the articles that talk about coronavirus and about the impact on Apple and the world of technology, start from this page. We recall that Apple's quarterly results will be announced on Thursday 30 April at 2 pm in Cupertino, in Italy at 11 pm. All details of the Apple results and insights will be published on the main Macitynet page, as well as in those dedicated to Market and Finance.