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Samsung expects global smartphone market returning to pre-Covid levels in H2 2021

By Liu Hongzuo - on 29 Jul 2021, 12:00pm

Samsung expects global smartphone market returning to pre-Covid levels in H2 2021

Samsung’s Developer Event from - you guessed it - pre-Covid days. Source: Samsung.

Samsung just published its Q2 2021 financial report, highlighting and hinting at its general direction for the Korean company’s key areas of its businesses.

It saw a 20% increase in consolidated revenue (compared to the same quarter from last year), totalling ₩63.67 trillion (~S$75.25 billion).

Its semiconductor business saw a “significant increase” for its Memory Business, with “strong” or “solid” demand for DRAM, graphics, and NAND components. 

Mobile memory demand saw short-term “limited impact” because of Covid-19 resurgence at its global phone production bases. However, the company expects the phone market to return to “pre-Covid” levels in light of increasing 5G adoption and contactless needs among consumers. 

Samsung also said its mobile business’s H2 is further bolstered by “new foldable models of mass-market 5G models”, which is a not-so-subtle hint at what’s up for grabs in the upcoming Galaxy Unpacked launch

Its TV and home appliance businesses saw a profit in Q2 as well, with TV demand set to grow higher in H2 “due to stronger seasonality”. In this area, the brand said it expects expanded sales of premium products with regional “peak-season promotions” - likely a reference to major electronics sales and holiday season purchases.

Source: Samsung

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