Electronics giant Samsung has warned of a potential decline in profits in its second quarter due to coronavirus, despite a strong first quarter from the memory chip arm of the company
Net income in the first quarter fell by 3.2 per cent, year on year, to 4.88 trillion won ($A6.1 billion), the world market leader in smartphones, memory chips and televisions said on Wednesday.
However, the South Korean company’s sales climbed by 5.6 per cent to 55.33 trillion won.
Server memory chips in particular had strong growth, as more people worked from home because of coronavirus and servers needed upgrading.
Looking ahead to the second quarter, the company expects the memory business to remain solid.
However, is said overall earnings were likely to decline because COVID-19 would have a significant impact on demand for several of its core products.