Samsung Q1 results shows increased smartphone profits despite COVID-19
Samsung has posted its quarterly report for the January - March 2020 period and it doesn’t look that bad. The company met analysts' expectations and revealed a slight revenue decrease on a quarterly basis due to seasonality, but profits rose compared to Q1 2019.
The mobile business reported less revenue than 12 months ago, but operating profit increased. Despite a decline in shipped units, the launch of the Galaxy S20 lineup and expanding its 5G portfolio allowed the Korean company to salvage its profitability.
(in KRW/ USD) |
Mobile Division Revenue |
Mobile Division Operating profit |
Overall Revenue |
Overall Operating Profit |
Q1 2020 | 26 trillion / 21.5 billion |
2.65 trillion / 2.1 billion |
55.33 trillion / 45.8 billion |
6.45 trillion / 5.34 billion |
Q1 2019 | 27.2 trillion / 22.5 billion |
2.27 trillion / 1.8 billion |
52.39 trillion / 43.4 billion |
6.23 trillion / 5.16 billion |
Samsung revealed expectations for Q2 2020 are demand to “drop sharply in most regions due to an economic downturn, caused by COVID-19”. Both sales and overall business performance will decline after many stores were closed and people suddenly were left without income, therefore they can’t afford to buy a new phone.
Samsung is not making any bold predictions for the rest of 2020, but one thing is sure - all manufacturers will aim to minimize the impact, intensifying the overall smartphone market competition. The company revealed new foldable and Note models should be expected, as well as better 5G adoption to mass-market smartphones.
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Reader comments
- PartTimePhoner
- 03 May 2020
- 3xw
I dunno man... some companies sold more than their 2019 Q1 in 2020 Q1
- PartTimePhoner
- 03 May 2020
- 3xw
Correct dese...... whatever Correcting "fast chipset" to "fastest" is not a correction. Stop being pretentious
- lacp
- 02 May 2020
- ncG
You have nothing to say about the displays of Samsung, they are intense in the colors and vivid and have no green tint since 2017 after. Their cameras are exceptional and their socs lately since the first Mongoose are exceptional, the last one is the...