SEOUL (Reuters) – Samsung Electronics Co Ltd said on Wednesday it expected profit to decline in the current quarter due to a coronavirus-related slump in sales of smartphones and TVs, although the chip business would remain solid.
FILE PHOTO: People wears masks in front a Samsung Store at a main shopping area as the country is hit by an outbreak of the new coronavirus in downtown Shanghai, China February 21, 2020. REUTERS/Aly Song
Samsung said its operating profit rose 3% in the January-March period, in line with an earlier estimate, as work-from-home orders boosted demand for server and computer chips.
The South Korean conglomerate joined other tech giants in warning of uncertainty over how long the coronavirus will continue to hurt the industry.
“In the second half, uncertainties driven by COVID-19 will persist as the duration and impact of the pandemic remain unknown,” Samsung said in a statement.