Samsung Doubles Its Operating Profit In 2020
January 29, 2021 | Investopaper
Samsung Electronics, South Korea’s technology giant has reported double-digit operating profit in 2020. As per the statement presented to the regulator, the company had made significant improvements in its business despite the Covid-19 epidemic.
The company’s operating profit for 2020 was $ 32.3 billion, up 29.6 percent from the previous year. This is the fourth highest profit in the company’s history. In 2020, the company’s total revenue increased by 2.8 percent to $ 212 billion.
The company has stated that the profit has also increased as the company witnessed huge increase in the purchase of electronic goods due to the online classes and the rules of working from home. Such purchases have increased significantly, especially in the last six months of 2020.
The global economy slowed in the first six months of 2020 due to the Corona epidemic, which led to a slowdown in the purchase of electrical equipment.
