SEOUL, South Korea – Samsung Electronics Co. On Thursday its operating profit for the last quarter rose more than 26% as it ended a strong business year where its double strength in parts and finished products allowed it to thrive amid the pandemic .
But the South Korean tech giant expected its profit to weaken in the current quarter with a weak dollar and costs associated with expanded product lines that would likely impact the bread-and-computer memory industry. -ìm.
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He has also handled legal cases over vice-president and de facto leader Lee Jae-yong, who was arraigned in the Seoul High Court last week to two and a half years in prison for his involvement in the 2016 corruption scandal that sparked major protests and then ousted the South Korean president.
“For 2021, the company expects to recover in overall global demand but uncertainty continues over the ability to recycle COVID-19 waves,” Samsung said in an email statement.
Samsung’s operating profit of 9.05 trillion won ($ 8.13 billion) for the October-December quarter represented a 26.35% increase from the same period a year earlier, while its revenue rose 2.78% to 61.55 trillion won ($ 55.28 billion). The company’s operating profit for the full year of 2020 was at 35.99 trillion won ($ 32.32 billion), up more than 29% from 2019, according to regulatory filings.
Samsung saw its semiconductor business back abruptly last year after a slow 2019, driven by strong demand for PCs and servers as a virus outbreak caused millions of people to stay and work at home. Trump administration sanctions against Huawei Technologies in China have blocked one of Samsung’s biggest competitors in smartphones, smartphone chips and telecommunications equipment.
Samsung said it will continue to see strong overall demand for its memory chips in the fourth quarter as major clients launch new smartphone models and cloud computing companies increase their investment in data centers. PC demand remained strong, led by Chromebooks, gaming notebooks and the release of new graphics cards and game consoles, the company said.