Samsung's profits have decreased - bdnews24hr : bdnews : Bangladesh Newspapers

Samsung's profits have decreased

Samsung's profits have decreased

Samsung's profits have decreased
. In the first quarter of the year, Samsung, a South Korean company, reported earnings for the three months from January to March. Samsung said Wednesday that the coronavirus had a negative impact on their business. Their main profit decreased by 3% in the first quarter of the year.

This situation has been created as a result of the decline in customer demand. The world's largest smartphone manufacturer has warned that profits will fall further in the next quarter. This information was reported by the AFP News Agency.

Samsung said in a statement that its core profit for January-March was $4.88 trillion won ($4 billion), down 3.1 percent from the same period last year. The effect of the Kovid-19 is part of the reason. Worse results can be seen in the April to June quarter.

The figures are due to the devastation of the global economy caused by the Corona epidemic, says AFP. Earlier this month, Samsung suspended operations at 11 foreign assemblies.

Samsung warned that overall revenue could fall from the previous three months. This is because Covid-19 will have a significant impact on the demand for its core products. Even if the demand for PCs and servers increases as people work from home, profits from established businesses, such as smartphones and TVs, will decline. Many manufacturing plants around the world may have to close down.

Woody Oh, a researcher at Strategy Analytics, a market research firm, said that while the impact of coronavirus on Samsung's first quarter earnings was small, the real impact could be understood in the second quarter. From April to June, when the effects of coronavirus become apparent, each company will report its worst earnings.

Samsung's share price in Seoul fell by 0.3 percent this morning. This year, Samsung is planning to launch its 5 G premium smartphone and Galaxy Z Flip.

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