Samsung sales risen during pandemic and here’s why

Given the threats raised by the current coronavirus pandemic, Samsung has said it plans to record good revenue for the April to June period.

Beating expectations, the Korean tech billionaire said late Monday he hopes to see an net income of 8.1 trillion won ($6.8 billion) for his second quarter as official results come out later this month, representing an rise of 22.7 per cent a year ago. The figure is amid an estimated revenue decline of 7.4 per cent year-on-year to 52 trillion won ($43.6 billion) over the three-month period.

Sadly, as usage of smartphones, TVs, and home appliances fell during lockdowns imposed by governments to slow the disease transmission, it is precisely these measures that seem to have boosted the bottom line of Samsung as an increase in remote operation has led to an increase in demand for server chip. The condition also caused the chips’ price to increase with data centers clamoring to snap up extra stock to work behaviour.

Apparently, the increase was driven by growing demands for memory chips used in personal computers and servers as the COVID-19 pandemic drives more people from home to work.