Samsung unveils preliminary earnings today, becoming one of the first major technology corporations to paint a picture of how the pandemic impacted the global tech industry in 2020’s first three months
SEOUL: When Samsung Electronics Co brass addressed analysts during its last earnings call, much of the talk revolved around finally turning the corner after years in the doldrums. That was in January, before Covid-19 threw the global economy into a tailspin.
Now, executives are struggling to assess the damage. In the short term, Samsung’s most profitable business is riding a surge in online activity from the millions confined to home, driving demand for the memory chips that help power datacentres and cloud services. But should the pandemic persist into the second half -- a worst-case scenario – the tech giant foresees missing its own 2020 revenue projections by a double-digit percentage, according to sources.
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