Samsung warns on lower customers’ demand for electronics

Electronics group Samsung has warned that earnings may be lower in the current quarter due to the corona pandemic. Demand for smartphones and other gadgets is decreasing due to the crisis and many shops worldwide are also closed.

However, Samsung can earn more from, among other things, memory chips for servers. The demand for this is increasing because there is much more work from home and cloud companies are expanding rapidly to accommodate that.

Net profit in the first quarter decreased by 4 percent to 4.9 trillion won, or about 3.7 billion euros. Earlier this month, Samsung had already released other numbers, including operating profit.

Samsung does not make exact predictions for this year due to the uncertainty surrounding the corona virus.

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