Samsung has announces its financial results for the third quarter of 2020, the company had revenue of KRW 66.96 trillion and an operating profit of KRW 12.35 trillion.
Samsung saw its operating profit rise 52 percent from the previous quarter and it was also up 59 percent on the previous year.
Even as the COVID-19 pandemic continues around the world, reopening of key economies led to significant increase in consumer demand. Samsung Electronics was able to respond aggressively through flexible global supply chain management (SCM), reporting its highest-ever quarterly revenue.
Quarterly operating profit rose 52 percent from the previous quarter, thanks to a boost in demand for smartphones and consumer electronics as well as efficient cost management. Third-quarter operating profit was also 59 percent higher year-on-year on stronger sales of memory chips and consumer products.
You can find out more information about Samsung’s quarter 3 financial results over at their website at the link below.
Source Samsung
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