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.
SEOUL - 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.
Samsung, which also makes home appliances and displays, on Tuesday releases guidance for the January-March quarter profit which is widely expected to be unchanged, and come under pressure in the next few quarters as the impact of coronavirus-related factory and retail stores shutdowns bites. However, the company already warned last month that the pandemic would hurt sales of smartphones and consumer electronics goods this year, and analysts said a prolonged virus outbreak could put higher demand for memory chips at risk.
Apple rescinded its profit forecast earlier this year due to production halts and retail store shutdowns in China.
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