Samsung is predicted to unveil two of its next-generation smartphones Galaxy Note 20 and Galaxy Fold 2 later this year, but it isn’t clear if the launch is going to be delayed thanks to the COVID-19 pandemic. The phones usually arrive around September, a bit before Apple’s annual iPhone event.
In its quarterly operating statement, the South Korean company assured that it’ll still offer differentiated products within the premium segment with the launch of latest foldable and Note models.
“The company also plans to boost 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’ll 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 within the half-moon.
Samsung said that it continued to take care of sound profitability by improving the merchandise mix, increasing the sales portion of 5G models and using marketing expenses efficiently during the amount.
“In particular, the ASP of flagship smartphones increased compared to last year on the rear of higher-than-expected share of Galaxy S20 Ultra sales also as solid sales of the Galaxy Z Flip,” Samsung said.
Samsung Electronics Co. has posted in increase of 3.4% in its operating profit during the primary three months of 2020. The profit was driven by an increase in demands for computer chips.
The tech giant, however, predicted that its profit would decline within the ongoing quarter thanks to the coronavirus pandemic that’s affecting sales of smartphones, TVs and other electronic products across the world.