Samsung Electronics eyes bigger profits with rise in teleworking | The Malaysian Insight

Samsung Electronics eyes bigger profits with rise in teleworking

Samsung Electronics is the flagship subsidiary of the giant Samsung group, by far the largest of the family-controlled conglomerates known as ‘chaebols’ that dominate business in South Korea, the globe’s 12th-largest economy. – EPA pic, April 7, 2020.

SAMSUNG Electronics expects higher first-quarter profits, it said today, as millions of people working from home under coronavirus lockdown turn to cloud data services, pushing up demand for the company’s chips. The pandemic is wreaking havoc across the global economy – Samsung itself has operations suspended at 11 overseas assembly lines as of today – and is widely expected to cause a recession.

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