A report by South Korean economic news agency Sedaily said Samsung talked about the impact of the COVID-19 pandemic on the company’s business during a closed-door conference call with securities analysts last week. Sales of the Galaxy S20 series smart phones are of particular concern because, according to preliminary estimates, new machines are less than 60% of the Galaxy S10 series compared to the same period last year. If you keep the timeline longer, the final number may be even more disappointing.
Samsung has not disclosed how many Galaxy S20 devices it has sold, and the exact figure sits not expected until the Q1 earnings report is released in a few weeks.
As a result of the COVID-19 pandemic, many markets around the world have been hit by economic shocks that have lasted for weeks or even months, and even android smartphone makers like Samsung have been unable to recover from the decline in sales.
In an environment where factories are shut down, stores close, and most people remain socially alienated, few people are willing to splash out on their phones.
If the spread of the virus is difficult to effectively control, the epidemic is also expected to have a significant negative impact on Samsung Electronics’ 2020 earnings.