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Friday, July 29, 2011

Samsung profits drop but mobiles do well

Samsung Electronics has announced its profits for the second quarter of 2011. Revenue was up 4% year-on-year to 39.44 trillion Korean Won (£22.8 billion), while consolidated net income was down 18% year-on-year to 3.51 trillion KRW. Consolidated operating profit for the quarter was 3.75 trillion KRW, down from the company’s record figure in Q2 2010.

Robert Yi, Vice President and Head of Samsung Electronics’ Investor Relations Team, said “Despite the challenging business environment and global economic uncertainties, we achieved continued year-on-year revenue growth in the second quarter driven by mobile device sales, particularly the success of our smartphones. Heading into the third quarter – which typically sees increased consumer demand for electronics – we expect competition to remain tight, and will continue to enhance our cost competitiveness and technology leadership in the components businesses.”

Samsung’s telecommunications businesses – including mobile communications and telecommunication systems – achieved revenue of 12.18 trillion KRW with an operating profit of 1.67 trillion KRW. In the Mobile Communications Business, revenue rose 45% year-on-year to 11.69 trillion KRW. Sales figures for mobile phones and tablet computers weren’t disclosed.

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Author: The Fonecast
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Categories: Handsets and manufacturers, NewsNumber of views: 579

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