The Korean tech giant has recently released its financial results for the first quarter of 2020. These numbers have indeed been affected by the COVID-19 pandemic, but Samsung still managed to report positive profits. While doing so, they also confirmed that the Galaxy Note 20 and Galaxy Fold 2 are coming in 2020.
Samsung has reported a 4% drop in sales that reflect in $21.3 billion in the first quarter of 2020 when compared to $22.3 billion sold in Q1 2019. However, the company also saw year-on-year growth, since it managed to make 1.8 billion in the first quarter of 2019 and $2.1 billion in Q1 of 2020. Samsung says that the reason behind these steady profits were its flagship launches that included the Galaxy Z Flip and the Galaxy S20 series.
An inevitable sales drop in Q2 2020 is also expected because of the shrinking smartphone market and the consequences of coronavirus. But things get interesting when Samsung says that it will offer new premium devices, a new foldable and a new Note model which will arrive in the second half of 2020. Samsung also mentions that it’ll bring 5G to “mass market” devices in the same period.
Source Android Authority