Pandemic Profit: Samsung’s Financial Forecasts Exceed Expectations

Samsung has made an extremely confident forecast for its latest financial results. Despite the extreme bottlenecks in the electronics sector and the failure of a US chip factory, the company is said to earn significantly more money than before.

As the Wall Street Journal reports, citing information from Samsung, the Korean electronics giant expects a 44 percent higher operating profit for the first quarter of 2021. This would mean significant growth in the midst of a global pandemic and the problems that result from it.

Compared to the previous year, this would be an enormous increase; Samsung was able to achieve 6.5 trillion won in the first quarter of 2020, and this year it is 9.3 trillion won. According to the forecasts, the company’s sales rose by 17 percent year-on-year to 65 trillion won.

Samsung’s Financial forecasts exceeded the previous forecasts by external experts in some cases significantly. The final figures are expected to be announced later this month.

Samsung benefits, among other things, from the enormous demand for various products from its production. In addition to selling its own devices, the Korean giant also supplies the components for the devices of numerous other providers through its various business units.

Because their products, in addition to Samsung’s own end devices, are in great demand as a result of the sharp rise in demand as a result of the pandemic, there is a great advantage for Samsung in both areas.

Among other things, Samsung can at least theoretically, so to speak, give itself preferential treatment by having a specialized division, for example, first deliver chips for the company’s mobile device division before other external customers are served.

An important factor behind Samsung’s recent successes is the fact that the manufacturer’s latest flagship smartphones from the Galaxy S21 series are much more popular than their predecessors. Samsung, Logo, Samsung LogoSamsung

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