Samsung Elec expects second-quarter profit fall as virus hits sales of smartphones, TVs

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SEOUL (Reuters) – Samsung Electronics Co Ltd said on Wednesday it expected profit to decline in the current quarter due to a coronavirus-related slump in sales of smartphones and TVs, although the chip business would remain solid.

FILE PHOTO: People wears masks in front a Samsung Store at a main shopping area as the country is hit by an outbreak of the new coronavirus in downtown Shanghai, China February 21, 2020. REUTERS/Aly Song

Samsung said its operating profit rose 3% in the January-March period, in line with an earlier estimate, as work-from-home orders boosted demand for server and computer chips.

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Samsung Elec sees second-qiarter profit fall as virus hits sales of smartphones, TVs

spike

FILE PHOTO: People wears masks in front a Samsung Store at a main shopping area as the country is hit by an outbreak of the new coronavirus in downtown Shanghai, China February 21, 2020. REUTERS/Aly Song

SEOUL (Reuters) – Samsung Electronics Co Ltd said on Wednesday it expected its profit to decline in the current quarter, as strength in the chip business would be offset by a sales slump in smartphones and TVs.

Samsung said its first-quarter operating profit rose 3% in the January-March period, in line with an earlier estimate, as the stay-at-home trend due to the COVID-19 pandemic

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