Samsung returns to profit on firm sales
By Kelly Olsen |
January 30, 2010, Saturday
|
Print Edition
Print Edition
SAMSUNG Electronics Co returned to profit in the fourth quarter on strong sales of flat screen televisions and mobile phones as well as higher prices for computer memory chips following a rare loss the year before.
The company, a major global producer of consumer electronics products and components that make them work, earned 3.05 trillion won (US$2.64 billion) in the three months ended December 31 on a parent basis, it said in a statement yesterday.
Samsung had a net loss of 22 billion won in the same period the year before. That red ink -- Samsung's first since it began reporting results on a quarterly basis in the third quarter of 2000 -- sent shock waves through the company and came as the global economic slump hit demand.
Samsung said its "strong performance" during the fourth quarter last year was bolstered by improving prices for memory chips and a seasonal increase in sales of consumer electronics.
Samsung said it sold nearly 11 million flat screen TVs in the quarter and became the first manufacturer to exceed the 10 million mark.
The company sold 69 million mobile phone handsets in the quarter, up 16 percent from the same period the year before. Total 2009 sales reached 227 million.
Looking ahead, the company said it expects "positive growth across its businesses in 2010," citing stronger demand for flat screen TVs, mobile phones and laptop computers resulting from the ongoing economic recovery.
The South Korea-based firm is the world's largest maker of computer memory chips, flat screen televisions and liquid crystal displays. It ranks No. 2 in cell phones.
The company, a major global producer of consumer electronics products and components that make them work, earned 3.05 trillion won (US$2.64 billion) in the three months ended December 31 on a parent basis, it said in a statement yesterday.
Samsung had a net loss of 22 billion won in the same period the year before. That red ink -- Samsung's first since it began reporting results on a quarterly basis in the third quarter of 2000 -- sent shock waves through the company and came as the global economic slump hit demand.
Samsung said its "strong performance" during the fourth quarter last year was bolstered by improving prices for memory chips and a seasonal increase in sales of consumer electronics.
Samsung said it sold nearly 11 million flat screen TVs in the quarter and became the first manufacturer to exceed the 10 million mark.
The company sold 69 million mobile phone handsets in the quarter, up 16 percent from the same period the year before. Total 2009 sales reached 227 million.
Looking ahead, the company said it expects "positive growth across its businesses in 2010," citing stronger demand for flat screen TVs, mobile phones and laptop computers resulting from the ongoing economic recovery.
The South Korea-based firm is the world's largest maker of computer memory chips, flat screen televisions and liquid crystal displays. It ranks No. 2 in cell phones.
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