FP TrendingMay 01, 2020 04:02:23 IST
Samsung is expected to unveil two of its next-generation smartphones Galaxy Note 20 and Galaxy Fold 2 later this year, but it's not clear if the launch will be delayed because of the COVID-19 pandemic. The phones usually arrive around September, a little before Apple's annual iPhone event.
In its quarterly earnings report, the South Korean company assured that it will continue to offer differentiated products in the premium segment with the launch of new foldable and Note models.
“The company also plans to enhance product competitiveness by expanding 5G adoption to mass-market smartphones and improve operational efficiency across all areas throughout R&D, production, supply, channel and marketing,” Samsung said.
Samsung also said it will solidify its core competencies and enhance 5G business capabilities for the mid to long-term.
Due to the impact of COVID-19, overall market demand fell significantly over the quarter, the report revealed, adding that the company’s smartphone shipments also declined in the first quarter.
Samsung said that it continued to maintain sound profitability by improving the product mix, increasing the sales portion of 5G models and using marketing expenses efficiently during the period.
“In particular, the ASP of flagship smartphones increased compared to last year on the back of higher-than-expected share of Galaxy S20 Ultra sales as well as solid sales of the Galaxy Z Flip,” Samsung said.
Samsung Electronics Co. has posted a rise of 3.4 per cent in its operating profit during the first three months of 2020. The profit was driven by a rise in demands for computer chips.
The tech giant, however, predicted that its profit would decline in the ongoing quarter due to the coronavirus pandemic that is affecting sales of smartphones, TVs and other electronic products across the globe.
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