Samsung’s profits are up despite COVID-19 pandemic
Photo by Vjeran Pavic / The Verge
Samsung posted better than expected earnings for the second quarter of 2020, with operating profit up 23 percent year-on-year to 8.15 trillion won ($6.84 billion) despite a 6-percent fall in revenue. The Korean conglomerate says it experienced a greater recovery from the impact of COVID-19 than it had initially forecast and managed to optimize its expenditure, even though sales of devices like smartphones were down from last year.
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