[Photo] Samsung, LG show surprising earnings in spite of COVID-19 pandemic

Posted on : 2020-07-08 16:52 KST Modified on : 2020-07-08 16:52 KST

Samsung Electronics recorded operating profits of over 8 trillion won (US$6.7 billion) for the second quarter of 2020, despite a steep drop in global demand amid the economic stagnation caused by the COVID-19 pandemic. Industry observers attribute Samsung’s resilience to the success of its semiconductor memory products as digital meetings and interaction become increasingly important as companies around the world continue to follow social distancing protocols. LG Electronics also showed surprising earnings with operating profits of 493.1 billion won (US$412.4 million) for the second quarter, which many people attribute to the success of its Velvet smartphone.

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