Samsung Electronics beats first-quarter estimates, braces for bigger blow from coronavirus
SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) said on Tuesday its first-quarter operating profit likely managed to rise slightly from a slump a year earlier, as solid chip sales helped cushion the blow from the coronavirus pandemic on smartphones and TVs.
FILE PHOTO: The logo of Samsung Electronics is seen at its store in Seoul, South Korea, October 11, 2017. REUTERS/Kim Hong-Ji
The South Korean tech giant is bracing for a bigger hit from the coronavirus which has led to a series of suspensions of factories and retail stores in Europe, India and the United States.