Samsung sees Q4 profit increase 26%

Samsung's full year operating income jumped 30% in 2020, despite the COVID-19 pandemic.
Written by Cho Mu-Hyun, Contributing Writer

Samsung Electronics posted 9 trillion won in operating income and 61 trillion won in sales in the fourth quarter of 2020, the company said in its preliminary earning guidance on Friday.

It is an increase of 25.7% and 1.87%, respectively, from the same time period a year ago.

For the full year of 2020, Samsung's operating income amounted to 35.95 trillion won, and sales 237.31 trillion won.

Operating income increased 30% from 27.77 trillion won in 2019, while sales experienced a slight rise from 230.4 trillion won.

Samsung will announce its full earnings at the end of the month.

Sales are expected to have remained strong across the board in the fourth quarter, much like the third quarter, in which Samsung saw profits and sales surge from pent-up demand following the easing of lock down measures from the COVID-19 pandemic.

South Korean analysts expect the semiconductor business to be the highest contributor in operating income, as it was throughout the year, while mobile and the consumer electronics businesses are expected to see profitability drop from the third quarter due to seasonality and year's end sales.

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