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Korean tech giant Samsung says it experienced a greater recovery from the impact of COVID-19 than it had initially forecast and managed to optimize its expenditure, even though sales of devices like smartphones were down from last year.

Samsung expects smartphone sales to rise next quarter due to the launch of the Galaxy Note 20 and Galaxy Z Fold 2.

Samsung’s all-important chip business is seeing mixed results during the pandemic.

The adoption of working from home means demand is strong for DRAM used in data centers and PCs, but down in mobile devices.

It’s a similar story with NAND, where server SSD sales are growing as cloud usage rises, but slumping smartphone sales mean overall storage shipments are down. Still, the semiconductor division overall accounted for two-thirds of Samsung’s operating profit for the quarter.