Samsung Electronics Posts 23% Rise in Profit as Pandemic Spurs Chip Demand
- Claire Anderson
- 09/07/2020
- Samsung
- coronavirus
- news
- industry news
- market news

Samsung Electronics has posted surprisingly robust second-quarter profit, driven by high demand for computer chips amid the new work-from-home economy, despite coronavirus affecting smartphone sales. Beating analyst’s forecasts, the world’s largest manufacturer of memory chips, smartphones and electronic displays posted operating profit for the April-June period at 8.1tn Won ($6.8bn), up 22.7% of last year. The group’s results indicate the health of Asia’s technology sector in the second quarter, during which the pandemic battered global economies. Chip prices were strengthened by data centres stockpiling chips on account of the surge in online activity. However, analysts warn that this trend would...