According to Samsung, despite the pandemic profits in its mobile business are up sharply from the dip it experienced in 2019. That’s thanks to launches of flagship devices like its Galaxy Note 20 and Z Fold 2 as well as demand for “mainstream” models. Samsung already told investors to expect higher profits for Q3 of 2020, but now the detailed results are out, revealing operating profit in its mobile division that’s up 51 percent over the same period last year (PDF).
Samsung also saw growth in its display business (which accounts for screens sold to others, like the OLED displays in Apple’s iPhone 12 lineup), and memory chips, which go in phones, servers and help power the graphics cards for new GPUs and game consoles. Overall, its operating profit grew to 9.27 trillion won ($8.2 billion), up 52 percent from Q3 2019.
Still, CNBC and Bloomberg note the company warned of declines coming in Q4, with increased competition in mobile and slower orders for server memory. Otherwise, it’s planning to push more 5G, more advanced display tech like foldable phones, and it plans to launch TV screens using new quantum dot technology in 2021.