Samsung’s Profit Rises Nearly 30% in Q4 2020 Despite COVID Challenges

Jan. 28, 2021

Samsung said that most of itsrevenues came from its display and memory chip businesses. The report also states that the latter business did suffer during the third quarter“due to weaker memory prices and sluggish consumer products sales, as well as higher marketing costs and negative impact from the Korean won’s appreciation.”

Samsung said that operating during the pandemic sure was a major challenge for the staff and executives. However,“company-wide efforts to ensure a stable supply of products and services globally helped Samsung’s fourth-quarter results,”increasing the total revenue earned during the year. This led to the company making a profit which is almost 30 percent more than the previous year.

Moreover, the display department of the company will continue to develop OLED panels as it expects larger devices like laptops, tablets, and in-car infotainment systems to switch to OLED technology this year.

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