Samsung has released its Q1 2020 financial results, and while it’s affected by the pandemic, its mobile unit still managed to report relatively healthy profits. Furthermore, the company also used the financial report to reveal a rough launch window for its next foldable and Note devices.
The firm’s IT and mobile division saw a 4% year-on-year drop in sales, from 27.2 trillion won (~$22.3 billion) in Q1 2019 to 26 trillion won (~$21.3 billion) in Q1 2020. Samsung also blamed COVID-19 near the end of Q1 for mobile shipments dropping quarter-on-quarter.
However, the unit’s profits saw slight year-on-year growth, going from 2.27 trillion won (~$1.8 billion) in Q1 2019 to 2.65 trillion won (~$2.1 billion) in Q1 2020. Samsung says an “improved product mix� was the reason for the steady profits, pointing to flagship launches such as the Galaxy Z Flip and Galaxy S20 series. But the current global situation does make you wonder what could’ve been, especially with arch-rival Huawei under a US trade ban.
What to expect later in 2020?
Samsung is expecting an “inevitable� drop in Q2 2020 though, owing to a shrinking smartphone market and store closures due to the coronavirus. But the firm says it’s also focused on more flexible and diverse manufacturing capabilities and improving online channels in a bid to soften the blow.
Looking to the second half of the year, Samsung revealed that it’ll offer new premium devices, specifically pointing to “new foldable and Note model launches.� This isn’t a surprise given that the Galaxy Fold and Note 10 series launched in the second half of 2019, but we now have official confirmation of a launch window for their successors.
The Korean manufacturer says it’ll also bring 5G to “mass market� devices. So you might want to wait until the second half of 2020 if you’re thinking about hopping aboard the 5G train — or if you want a new premium Samsung device.
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