Samsung Electronics Reports 730 Billion KRW Operating Profit in Home Appliance Business for Q2
[Asia Economy Reporter Dongwoo Lee] Samsung Electronics announced on the 30th that its Consumer Electronics (CE) division recorded sales of 10.17 trillion KRW and an operating profit of 730 billion KRW in the second quarter.
In the second quarter, the TV business saw a decline in sales compared to both the previous quarter and the same period last year due to reduced market demand caused by lockdowns in major regions amid the spread of the novel coronavirus (COVID-19). However, performance improved thanks to active response to short-term demand increases by leveraging the global SCM and cost efficiency measures.
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The home appliance business in the second quarter experienced a sharp drop in market demand due to the COVID-19 situation, but profits improved compared to the previous quarter through product mix enhancement by expanding sales of premium TVs such as air conditioners, dryers, and QLED, as well as operational efficiency.
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