According to Samsung, the Smartphone sector has improved significantly amid the pandemic revenues from 2019. This is due to flagship releases such as their Galaxy Note 20 and Z Fold 2 and the demand for “full” models.
Samsung told investors already to expect a higher profit for the third quarter of 2020, but now the detailed figures have expired showing a 51% rise in the operating profit of the smartphone segment during the same time last year (PDF).
Samsung also saw development in its display business (which accounts for screens sold to others, like the OLED displays in Apple’s iPhone 12 lineup), and memory chips, which go in phones, servers and help power the graphics card for new GPUs and game consoles.
Overall, its operating profit grew to 9.27 trillion won ($8.2 trillion won ($8.2 billion), up 52 percent from Q3 2019.
Still, CNBC and Bloomberg note the company warned of declines coming in Q4, with increased competition in mobile and slower orders for server memory. Otherwise, it’s planning to push more 5G, more advanced display tech like foldable phones, and it plans to launch TV screens using new quantum dot technology in 2021.44