The tech big noticed a lift in flagship gross sales
Samsung has reported its highest income ever, because of a lift in flagship cellphone gross sales, in line with its Q3 2020 earnings report.
The tech big reported 66.96 trillion received (about $78 billion CAD) in income for the quarter. Samsung notes that it was capable of “reply aggressively” to buyer demand following COVID-19 disruption.
“Even because the COVID-19 pandemic continues around the globe, reopening of key economies led to vital enhance in client demand,” Samsung acknowledged.
“Samsung Electronics was capable of reply aggressively by versatile international provide chain administration, reporting its highest-ever quarterly income.”
The tech big’s cell gross sales are up 51 p.c when in comparison with the identical interval a 12 months in the past. It’s price noting that Samsung launched a number of flagship telephones within the earlier quarter, together with the Galaxy Observe 20 line, the Galaxy Z Fold 2 and the Galaxy Z Flip 5G.
Samsung has warned traders of decrease income within the coming quarter because of excessive competitors out there and an anticipated stoop in reminiscence demand.
Since Apple’s annual iPhone launch was bought into October, Samsung was capable of launch its new telephones with out having to go up towards its greatest competitor.
The 2 firms can even now be competing for the additional market share because of Huawei’s decline in manufacturing and gross sales.
When it comes to 2021, Samsung plans to “broaden gross sales by additional differentiating flagship line-up by reinforcing competitiveness of foldable telephones to extend their recognition; and by strengthening 5G lineup for the mass market Proceed effort.”
Supply: Samsung By way of: The Verge