Samsung expects smartphone sales to decline, but hopes another line of business will succeed

Samsung makes big 5G bets this year

Samsung’s annual shareholders meeting was held this week, during which Kim Ki-nam, CEO of the company, said he expected smartphone sales to decline. More precisely, the South Korean manufacturer predicts a reduction in the entire global smartphone market as a result of the coronavirus pandemic.

Samsung made big bets on 5G this year. Demand in this segment, indeed, will continue to grow. However, this will be slower than originally expected, so Samsung had to revise the forecast.

At the same time, demand for data center solutions and network components is expected to grow steadily despite the coronavirus pandemic. This should stimulate Samsung's semiconductor business.

The fact that Samsung hopes for the success of this area of ​​activity is evidenced by the intention to hire a record number of specialists in the field of chip manufacturing.

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