After signing an excellent third year 2020, Samsung Electronics appears to have repeated the feat with a fourth quarter of 2020 (almost) as remarkably. According to the first estimates Revealed by the company, it would have managed to record 9 billion Koreans won profitsor about $ 8.22 billion. If this number were confirmed it would show an increase of almost 26% compared to the fourth quarter 2019 results.
Samsung takes off on the stock exchange
It’s a tradition: while Samsung waits to release its final and detailed quarterly balance sheets, it first shares its earnings estimates. The Korean automaker reported that the final quarter was no exception Profits of 9 billion Korean won ($ 8.22 billion) between October and December 2020. An announcement that floated the Korean group’s shares on the Seoul Stock Exchange: + 7.12% in a single day.
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Especially because of this success a consolidation of the Chinese manufacturer’s sales that would amount to 61 trillion won 2% more in the fourth quarter of 2020 than in the same period in 2019. However, Samsung has not yet detailed which sectors have been most productive.
The shortage of semiconductors may have helped the Korean company
We can bet that the high demand for DRAM chips has something to do with these results. The world is currently facing a shortage of semiconductors due to the health crisis that forced Chinese factories to close for several months. Many companies are already suffering from the effects of this situation: for example, the factories of Ford and Nissan are idling, and Volkswagen too could find itself in the same situation in a few days.
Huawei also feared a shortage of chips, but for a completely different reason. Since Donald Trump signed a national emergency decree, the Chinese manufacturer has been robbed of its key partners and had to order components directly from Samsung Electronics.
So many conditions that have certainly benefited the Korean manufacturer. At least it was necessary to make up for the losses in smartphone sales at the beginning of the year …