The uncertainty finally clears on the Galaxy Note 20 and Fold 2 as Samsung officially confirms the arrival of the two devices later this year.
For a while now, tech enthusiasts can only rely on leaks and rumors regarding the Galaxy Note 20 and the Fold 2. However, all of that is about to change as Samsung reveals a possible second-quarter release for the two devices in its latest earnings report.
A bad year for business
The effects of the novel coronavirus pandemic are far-reaching and have dealt an incredible blow to the business sector. With production and sales being disrupted, it’s no wonder companies are reporting a decrease in their profit, and Samsung is just one of them.
According to the tech giant in its latest earnings report, the pandemic has significantly affected their sales. The pandemic saw a big downturn in phone and TV sales, which resulted in a 7.6% decrease in total revenue compared to the previous quarter.
Samsung’s only saving grace was its chips division, which saw an impressive performance. This subsequently pushed Samsung’s profits up by three percent.
However, the company expects the worst for mobile and television profits in the next quarter. This is because people are more likely to limit their spending on non-essential items due to the pandemic.
Samsung’s winning plan: the Galaxy Note 20 and Fold 2
The show must go on as people often say, and the same goes for Samsung. Despite the challenges ahead, Samsung plans to push on through to the second quarter with hope. In fact, the company will be looking towards the Galaxy Note 20, the Fold 2, and 5G technology to be their cards in this uncertain period.
“The company will continue to offer differentiated products in the premium segment with the launch of new foldable and Note models. The company also plans to enhance product competitiveness by expanding 5G adoption to mass-market smartphones and improve operational efficiency across all areas throughout R&D, production, supply, channel, and marketing,” Samsung explains in its earnings report.
Possible release date
Samsung is yet to announce an official release date for the devices. But since they mentioned the second quarter, it could possibly arrive as early as August. This is more likely for the Galaxy Note 20. The Galaxy Fold 2, however, could possibly be revealed sometime after that. What’s important is that these devices will come this year, and that’s something to be excited about.