Samsung Electronics said it expects to show a strong increase in first-quarter results compared to a year ago and Q4 2020. The company estimates sales at KRW 65 trillion, up from a reported KRW 55.3 trillion in Q1 2020, and operating profit at KRW 9.3 trillion, compared to KRW 6.45 trillion a year ago.
Last year's Q1 was marked by the first affects of the Covid-19 pandemic, which initially hit supply chains and then started affecting end-user demand from the end of the quarter. This year the company profited from the recovery in demand and the early release of its flagship S21 smartphone series in January.
Compared to Q4 2020, Samsung's results are also higher, despite the usually seasonally weak first quarter. In Q4, the company reported sales of KRW 61.55 trillion and operating profit of KRW 9.05 trillion.
Full quarterly results will be released later this month, on 29 April.
