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Samsung posts better than expected earnings for second quarter of 2020

Samsung posted better than expected earnings for the second quarter of 2020. Operating profit up 23 percent year-on-year to 8.15 trillion won ($ 6.84 billion). The Korean conglomerate says it experienced a greater recovery from the impact of covid-19 than it had initially forecast.

Samsung expects smartphone sales to rise next quarter due to the launch of the Galaxy Note 20 and an unnamed foldable phone, likely the leaked Galaxy Z fold 2. The display business, which supplies panels for other device makers, saw demand fall but had earnings boosted due to a’one-time gain’.

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