Samsung Profits Soar on Work from Home Demand

Samsung Electronics has seen its earnings soar as sales were boosted by millions working and learning from home during the virus pandemic.

The world’s largest maker of smartphones said second quarter operating profits rose 23% compared to last year.

The results were helped by strong demand for computer chips, which pushed up prices on the global market, BBC reported.

Data centres have expanded capacity to support home working and schooling.

"The Memory Business saw robust demand for cloud applications related to remote working and online education as the impact from Covid-19 continued, while demand for mobile was relatively weak," the South Korean company said in a statement.