The company is expected to generate $44.9 billion in revenue by the first quarter of 2020, an increase of 5.5% over the same period last year. However, operating profit fell 0.09% to $5 billion.
The analysis points out that consumers are unlikely to buy new smartphones as often as they used to because of rising prices and more cost-effective choices to enter the market. Most importantly, however, the coronavirus epidemic keeps most families at home and has no stable income. The report said Samsung Electronics held a private conference call for its investors earlier last week to discuss the decline in demand for smartphones. The South Korean giant's Galaxy S20 series is estimated to be 40 per cent lower than its predecessor S10.