According to the earnings guidance report released by Samsung, the company’s operating profit is expected to increase from 6.23 trillion won during Q1 of 2019 to 6.4 trillion won during Q1 2020, recording a three per cent year-on-year (YoY) growth.
As per the estimates, Samsung’s revenue for Q1 2020 was approximately $55 trillion won.
Samsung’s increased revenue can be attributed to its chip sales. As per industry sources, the company has witnessed a surge in the sales of its memory chips over the past month as people are increasingly working from home amid growing Covid 19 concerns.
As per the report, the chip market constitutes about half of Samsung’s operating profit.