Samsung released the financial reports of the Pandemic period, for Samsung, which announced the results for the fourth quarter of 2020 and the whole fiscal year, the figures look impressive for both periods. Compared to the last three months of 2019, the company only achieved a 26% profit increase in the October-December period, while sales are just under 3%.
Samsung also gained nearly 30% in profits for the full year as it grappled with the pandemic, with sales up $ 5.36 billion year-on-year. Samsung’s Mobile division experienced a decline in both sales and operating profit during the holiday season. The fourth quarter of 2020 made 34% less profit than the fourth quarter of 2019. This profit remained at the level of $ 2.14 billion. Samsung said this was due to weak sales.
The first quarter of 2021 may not be too fast for the smartphone market. Still, the South Korean company is expected to increase both revenue and profit following the early introduction of the Galaxy S21 series, as well as “diversification of the product range”.
Samsung’s golden egg laying chicken in 2020 was the AMOLED display section. While making the highest cell phone panel sale ever, on the other hand, TV screen prices showed an increase, leading to a sharp increase in cash flow. In the upcoming period, Samsung is predicted to generate a large revenue from display sales as large consumers increasingly adopt OLED panels.
We understand that the target of Samsung this year will be more about screen production than mobile device production. Let’s see what competitors will do against Samsung.