[Samsung Electronics Concall] "Q2 Smartphone Demand Plummets... Earnings Decline Inevitable"
[Asia Economy Reporter Han Jinju] At the 2020 Q1 earnings conference call held by Samsung Electronics on the 29th, Lee Jong-min, Executive Director of the Wireless Business Division, stated, "As the global spread of COVID-19 continues, due to the global lockdowns and the resulting economic downturn and deepening consumer sentiment contraction, smartphone demand is expected to sharply decline in most regions in Q2." He explained, "With direct impacts such as store closures continuing, a decline in sales of major products and earnings is inevitable."
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Executive Director Lee said, "Given the market uncertainty is higher than ever, we will focus on strengthening online and B2B channels and cost efficiency." He added, "If constraints arise at production bases, we will flexibly respond by actively utilizing diversified global manufacturing capabilities to dualize production."
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