As per reports, during the final quarter of 2020, the total revenue and profit for Samsung mobile business fell gradually. The sudden fall in the mobile business was due to the increased demand for smartphones which eventually offset the track by intense competition. Apart from this one more major reason is said to be the higher marketing expenses.
The Korean giant as like other smartphone manufacturers, gone through the unexpected impact on its supply chain and production like due to the coronavirus pandemic. However, one cannot decline that the Christmas market in late 2020 provided a traditionally strong base from the past few months.
Fortunately, the graph didn’t fall all of a sudden and the company noticed a gradual increase in the final revenue and profit quarter-on-quarter. Samsung’s IT and Mobile Communications division presented a report that clearly shows a 22.34 trillion market which is around £15bn in the total mobile revenues. Apart from this a predicted profit of 2.42 trillion, that’s around £1.6bn in Q4.
Samsung in Q2-
As per the fresh report released by the Korean giant they expect the overall market will decline in Q1, but also believe that there will be an increase in the number of sales during Q2. Well, the expected from the company is undoubtedly due to its upcoming launches nearly at all price points, the Samsung Galaxy S21, said the most awaited smartphone from Samsung in 2021 is also listed in the Q2 launches.
The company in an interview confirmed that 2021, smartphone market demands is likely to get back to pre-COVID levels through a gradual recovery in the global economy. Apart from this, the major acceleration will be due to the expansion of the upcoming 5G market.
Moreover, the company’s year-on-year profits increased by a total of 26.4% which is 9.05 trillion won (£5.9bn). It’s when the revenue reached the mark of 61.55 trillion won (£40 billion), that clearly shows an increase of 2.8%.
This is all we have from the company’s report about their comeback in Q1 after the market in Q4 2020. As the year will pass, Samsung believes that its annual profit will keep on increasing.
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