Samsung’s profits rose in 2020 despite the epidemic

Samsung’s profits rose in 2020 despite the epidemic

Announced a company Samsung reported its financial results for the fourth quarter and fiscal year 2020, which confirms that the company achieved more profits in 2020 than the previous year, despite the challenges of the Coronavirus pandemic.

And theregistered The company has 61.55 trillion won ($ 55 billion) in consolidated revenue and 9.05 trillion Korean won ($ 8.17 billion) in operating profit for the quarter ended December 31, 2020.

Over the entire year, it recorded revenues of 236.81 trillion won ($ 211.5 billion) and 35.99 trillion won ($ 32.1 billion) in operating profits.

Samsung’s display unit posted its highest profit ever in the December quarter, as provision of displays for the new iPhone from Apple kept OLED production near 100 percent capacity during the quarter.

The company expected strong demand for its chips this quarter and stronger mobile sales after the launch of its flagship Galaxy S21 smartphone lineup, along with a potential recovery in mergers and acquisitions activity.

However, the world’s largest chipmaker has warned that the costs associated with producing new chips may lead to a weaker profitability result, after it posted a 26 percent jump in operating profits in the fourth quarter.

Choi Yoon-ho, Chief Financial Officer, explained that the level of monetary increase over the past three years is mainly due to our inability to carry out beneficial M&A activities, adding: It is likely that beneficial M&A activity will occur in the next three years.

Samsung seeks to secure future technology through potential mergers and acquisitions, Given that the next era cannot be distinguished by smartphones, securing the technology that can be adopted in future cars seems likely.

Samsung has benefited from the stay-at-home trend during the global pandemic that has boosted demand for home apps and smartphones.

The DRAM chip market is expected to recover during the first half of 2021 and DRAM prices will rise much higher than expected in the first quarter, due to customer demand for mobile devices and servers.Where the server clients that they stored were out of stock when the Corona virus first appeared in the first half of last year.

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