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Samsung Expects a Profit of 53% Higher in Q2 of 2021

Samsung is expecting to get a profit of 53% higher in Q2 of 2021 when compared to that of Q2 of 2020.

Samsung

Samsung is expecting a higher revenue and profit for the company just released its notes for Q2 of 2021. According to the company, this increase is majorly for higher demand for semiconductor chips and smart devices.

We all know since the coronavirus outbreak, everything and everyone is shifting to the internet. And that shift turned the graph in favor of companies like Samsung.

In its report, Samsung is expecting a revenue of around KRW 63 trillion (nearly $55.4 billion) for Q2 of 2021 – a jump of 19% compared to Q2 of 2020. The profit expectation is around KRW 12.5 trillion (nearly $11 billion) – a jump of 53% compared to Q2 of 2020.

Previously, i.e., in Q2 of 2020, the company released its reports with a 7.4% loss in sales. The reason for that was quite obvious – the COVID-19 outbreak.

We also heard that this time Samsung is expecting to sell more smartphones and TVs than any other brand. But there is also one hurdle coming their way – a shortage of chips and other components.

Source

It has been a long time since I joined Research Snipers. Though I have been working as a part-time tech-news blogger for the past few months, it still feels good to be part of the team. Besides this, I am working with a Canadian-based real estate business and running my own financial blog.

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