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Samsung expects profit to drop in Q2 as Covid-19 hits phone, TV sales

The South Korean conglomerate joins other tech giants in warning of uncertainty over how long the coronavirus will continue to hurt the industry

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Samsung | Samsung Electronics | Coronavirus

Reuters  |  Seoul 

Samsung Electronics on Wednesday said it expected its profit to decline in the current quarter due to a coronavirus-related slump in sales of smartphones and TVs, even as its chip business would remain solid. The company said its operating profit rose 3 per cent in the January-March period, in line with an earlier estimate, as work-from-home orders boosted demand for server and computer chips. The South Korean conglomerate joined other tech giants in warning of uncertainty over how long the coronavirus would continue to hurt the industry. "In the second half, uncertainties ...

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First Published: Wed, April 29 2020. 10:34 IST
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