Our top story this morning.
South Korea's top smartphone and chipmaker, Samsung Electronics, beat its quarterly earnings forecast for the second quarter.
For more, we have our Kim Jae-hee on the line.
Jae-hee, Samsung's report card for Q2 was mixed,… with operating profits in the black, but the firm's sales took a hit. Tell us more.
Se-min, Samsung Electronics estimates that it logged robust earnings in the second quarter thanks to solid demand for semiconductor chips due to the COVID-19 pandemic encouraging more of a non-contact lifestyle.
The tech giant said Tuesday that its operating profit in the April to June period was estimated at around 6.8 billion U.S. dollars.
That's a 22.seven-three percent rise from the same period last year, and a 25.five-eight percent rise on-quarter.
But COVID-19-induced shutdowns dragged down Samsung's overall sales.
They fell 7.three-six percent on-year to an estimated 43.5 billion dollars.
This trend is in line with other leading global tech firms.
What exactly caused its operating sales to post such a rise, and is Samsung going to be able to maintain these impressive sales figures over the remainder of the year?
As I mentioned earlier, Samsung's better-than-expected semiconductor business appears to have led the company's overall performance in the second quarter.
Demand for semiconductor chips remained solid with more people working from home, and students taking online classes.
Samsung's earning from its mobile and consumer electronics sectors divisions were down on-year, but they still beat forecasts.
More details will be out when Samsung releases its finalized figures later this month.
As for the remaining two quarters, market watchers say that, with the prolonged COVID-19 pandemic, and the bitter U.S.-China relationship, it's difficult to be too upbeat but then again, we don't know what's round the corner.
That's all I have at the moment, but I'll be back with more updates in our later newscast.
Back to you.