Thanks to the coronavirus, most of the world’s tech manufacturers are facing a situation that they’ve never had to deal with before. Navigating a global economy that has been turned upside down because of the disease, Samsung Chief Executive Kim Ki-nam cited the pandemic and the U.S.-China trade dispute for continued weakness in the global smartphone market. While Kim is negative on the outlook for smartphones this year, he is positive about the company’s chip business; he expects a rebound in 2020 after weak global demand and the U.S.-China trade war ate into Sammy’s chip business last year. The unit accounts for half of the company’s operating profit.

Still, Samsung’s consumer electronics chief Kim Hyun-suk said that it is too early to figure out how COVID-19 will affect the company’s consumer business. Kim said, “We had expected the consumer electronics market to rise slightly this year, but with the coronavirus fast-spreading, uncertainties are growing faster than ever, and it is very difficult to predict the future.”

But then it comes to chips, Samsung feels positive about 2020, unlike rival chipmakers who have been chipping away at their sales forecast. Samsung sees strong demand for chips used in 5G wireless networks, data centers, and automobiles. While demand for chips will rise, supply will shrink according to Kim as foundries (including Samsung’s) move to 5nm chip production instead of increasing capacity. At 5nm, Samsung’s chips will carry 127 million transistors per square mm making them more powerful and energy-efficient than current chips made using the 7nm node.

The report helped Samsung’s shares rise .6% earlier today against a broader market decline in South Korea of .5%. The number of people attending Samsung’s stockholders’ meeting dropped from 1,000 last year to 400 this year because of the coronavirus outbreak. Those showing up at the gathering were scanned with a thermal camera and had their temperature taken when they first arrived at the venue. They also were seated two seats away from each other to help prevent attendees from spreading the virus. The company also instituted electronic voting for the meeting and suggested that stockholders vote online.