Samsung boosted profits by 26.4 p.c for its fourth-quarter despite an 11 p.c drop in smartphone sales over final 12 months, the corporate introduced. For the whole 2020 fiscal 12 months, in the midst of a pandemic, it noticed income and profits each rise to 236.81 trillion gained ($211.5 billion) and 35.99 trillion gained ($32.1 billion), will increase of 29.6 and a couple of.78 p.c, respectively.
Fourth-quarter outcomes had been powered primarily by its reminiscence and show companies, with the latter marking a document quarter in phrases of income. Samsung chalked that as much as excessive demand from smartphone producers, seemingly due in half to OLED panels provided to Apple for its iPhone 12 lineup. Apple itself booked a document $111.4 billion in income this quarter on the energy of iPhone 12 sales, successfully doubling the 61.55 trillion gained ($54.98 billion) in income that Samsung made in This autumn.