Despite the coronavirus pandemic, Samsung did very well financially last year. Now the company has published its revenue estimates for the last quarter of last year, and based on them, it expects very good results, mainly thanks to strong sales of chips and displays.
Specifically, Samsung expects its sales for last year's 4th quarter to reach 61 trillion won (approximately 1,2 trillion crowns) and operating profit to rise to 9 trillion won (approximately 176 billion crowns), which would be a year-on-year increase of 26,7 %. As for the whole of last year, the profit will be 35,9 trillion won (approximately CZK 706 billion), according to the tech giant's estimate.
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Despite weaker smartphone sales in 2020, driven by lower-than-expected flagship sales Galaxy S20 and the strong launch of the iPhone 12, Samsung appears to be doing exceedingly well financially, largely thanks to solid sales of screens and semiconductor chips. Although the giant did not disclose detailed figures, analysts expect that 4 trillion won (roughly 78,5 billion crowns) of the said estimated 9 trillion profit came from its semiconductor business, while 2,3 trillion won (about 45 billion crowns) they said could have come from its smartphone division.
Samsung should reveal full financial results in a few days. It announced new TVs this week NeoQLED and on January 14 it will launch the new flagship phones Galaxy S21 (S30) and new wireless headphones Galaxy BudsPro.
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