Technology sector. Samsung was the first among technology giants to present financial results for Q1 2020

The COVID-19 pandemic has affected all areas of business operations from demand through logistics and sales, to production. Therefore, one should expect that the first results published by the Korean giant will be a preview of the negative trend that will appear in the accounting books of companies around the world. Meanwhile, preliminary estimates show that Samsung improved in Q1 2020 last year’s results – operating profit is expected to reach 6.4 trillion won (about $ 5.2 billion), which is an improvement vs. the corresponding period last year by 2.7%. In turn, revenues were to increase by as much as 5%.

Although we still have to wait for the exact statement, it all indicates that such surprisingly positive estimates are the result of, among others Korean won exchange rate fluctuations, but also that Samsung is a leader in the production of memory chips. In turn, these are undergoing increased popularity – bought, for example, by companies working with popular online applications. They are also used in laptops, which have recently recorded significant increases in sales, due to the mass transition to remote work.