The coronavirus-driven global shift to working from home is set to have boosted demand for Samsung Electronics' memory chips from laptop makers and data centres, but first-quarter profits are likely to remain flat as the outbreak weakened consumer electronics sales.
"The visibility for Samsung's earnings is low for the second quarter," said Lee Do-hoon, an analyst at CIMB Research. When the outbreak first started in China last year, Samsung's strategy of spreading out its production base to countries including Vietnam and India seemed to pay off: rivals such as Apple were hit by supply disruptions as China shut down factories and locked down cities to control the coronavirus.
Prospects for Samsung's flagship Galaxy S20 premium smartphones, launched more than one month ago, look dim. Its 5G-enabled S20 phones are already selling at a third of their launch price of US$1,308 in South Korea, an official at a local carrier told Reuters.
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