Samsung forecasts record Q1 profit
By Kelly Olsen |
April 7, 2010, Wednesday
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Print Edition
Print Edition
SAMSUNG Electronics Co yesterday forecast a surge in first-quarter operating profit to near-record levels, heading into a year for which the biggest flat screen TV producer is predicting double-digit sales growth as global markets recover.
The company said it expects operating profit of between 4.1 trillion won and 4.5 trillion won (US$4 billion) for the three months ended March 31. That would be at least seven times the 590 billion won profit for the same period last year and might top its record of 4.2 trillion won for the third quarter of 2009.
Samsung gave no reasons for the strong first-quarter performance and spokeswoman Hwang Eun-ju said it would explain when it releases results at the end of this month.
Samsung had net earnings of 620 billion won in the first quarter of 2009. It does not release net profit forecasts. The company is the world's largest maker of flat screen TVs and memory chips.
The company said it expects operating profit of between 4.1 trillion won and 4.5 trillion won (US$4 billion) for the three months ended March 31. That would be at least seven times the 590 billion won profit for the same period last year and might top its record of 4.2 trillion won for the third quarter of 2009.
Samsung gave no reasons for the strong first-quarter performance and spokeswoman Hwang Eun-ju said it would explain when it releases results at the end of this month.
Samsung had net earnings of 620 billion won in the first quarter of 2009. It does not release net profit forecasts. The company is the world's largest maker of flat screen TVs and memory chips.
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