At present days, most of the tech giants already reduced their earnings estimates due to the coronavirus outbreak. The reasons behind it are the downfall of customer demands of gadgets, smartphones, and other electronics or non-electronic products.
But, in the case of Samsung, the scenario may be quite exceptional. It announced the Earning Guidance for the first quarter of 2020 on this April 7. As per the report, the company is expecting approximately an operating profit of 6.4 trillion won. This is the 2.7% hike with respect to the amount it posted last year for the same period of time. The report also said about their consolidated sales estimation which may lie between 54 to 56 trillion won. And it is almost a 5% increase than the previous year.
Surprisingly, like other large tech industries as Apple, Microsoft, etc Samsung also has to close its so many factories for safety purpose. Their Noida factory, which was started in 2018 is one of them.
The Worldwide shutdowns become the prior headache for all the industries, including tech. All are changing their plannings to be stable and more effective than opponents in the market. Both Apple and Microsoft already announced their expectations about the drop in their yearly income target.
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