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Samsung sees lower 5G investments in Q2 due to COVID-19 impact: VP

April 30, 2020


South Korea tech giant Samsung Electronics expects to see a slowdown in 5G investments in the second quarter of the year due to the negative impact of the COVID-19 pandemic, JongMin Lee, VP of Samsung’s mobile communications business, said during the firm’s earnings call.

“It is possible that investments in 5G networks will be reduced or delayed domestically and internationally as more effects of COVID-19 unfold,” the executive said.

He also noted that Samsung had a positive performance in its network business in the first quarter of the year. ”For the network business, our performance improved quarter-on-quarter as 5G commercialization expanded in Korea as well as abroad,” he added.

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