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Samsung’s profits went through the roof in Q2 2020, but smartphones didn’t do very well

July 30, 2020


The coronavirus pandemic has made 2020 by far the most challenging year in history for the vast majority of the world’s smartphone vendors, but while Samsung can’t be happy about losing the top spot in Q2 global shipments to Huawei, the latest overall financial results posted by the Korea-based tech giant are actually pretty remarkable.

Believe it or not, the company managed to boost its operating profit compared to both Q1 2020 and Q2 2019 despite also reporting a year-on-year and quarter-on-quarter drop in consolidated revenue. Basically, that means Samsung sold less stuff at significantly higher prices, improving its bottom line during a very difficult time for the global economy.

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