Samsung has managed to record a profitable quarter despite the grasp of the pandemic.
The sales of flagship devices like the Galaxy Note 20 and Z Fold 2 contributed greatly to the success.
There has also been a spike in demand for mainstream Smartphone models over the last couple of months.
In comparison, Samsung’s profitability during Q3 2020 edges out that of 2019 by roughly 51 percent.
This result also aligns with Samsung’s projection that investors should expect a higher profit for Q3 2020.
However, Samsung’s mobile business is not the only profitable venture, as the display business also experienced a similar boost.
ALSO READ: Lee Kun-Hee: Samsung Chairman Is Dead
According to the report, Samsung’s display business accounted for about $8.2 billion in operational profit.
In comparison, the display business grew up by 52 percent from Q3 2019.
Samsung attributed this particular success to the sales of screens to other mobile makers like Apple.
For instance, Samsung provided the OLED display used in Apple’s latest flagship iPhone 12 lineups.
Profitability may decline in Q4
According to these experts, the company should anticipate a decline in profit due to the stiff and competitive market.
Just a few weeks into the Q4, rivalry brands like Apple, Google and Huawei have also released various flagship devices.
However, it is expected that the demand for Samsung’s devices may reduce as potential buyers are provided with more options.
In an attempt to stay afloat, Samsung is reportedly looking towards another direction.
The tech giant wants to push more 5G, more advanced display tech as sported in the foldable phones.
Similarly, Samsung plans to launch TV screens that employ the latest Quantum dot technology in 2021.
Samsung Q3 success comes shortly after the demise of Chairman
Recall that Samsung Chairman, Lee Kun-Hee died on Sunday, October 25, 2020.
He died at age 78 after decades of transforming the company into a tech giant.
While he was still alive, the company met the International Organization for Standardization requirements for its Walking Assist Robot.
This made the South Korean company the first in the region to bag the ISO 13482.
The certification was obtained from the Korean Institute For Robot Industry Advancement (KIRIA).
In his appreciation, the company reportedly burned over 150,000 handsets.
Samsung has proven yet again to be worth its current position in the mobile industry.
The tech giant reported one of the most profitable quarters amidst global uncertainties.
Indeed, it is a very strong legacy that the demised Chairman left behind.
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