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Friday, January 28, 2011

Record quarterly results from Samsung

Samsung Electronics has announced revenues of 41.87 trillion Korean won (£23.68 billion) for the fourth quarter of 2010, a 7% year-on-year increase. This brings Samsung’s total 2010 revenue to an all-time high of 154.63 trillion won, up 13% from 2009. Net income also reached a record high of 16.15 trillion won, up 65% year-on-year, while operating profit hit a record 17.30 trillion won.

Robert Yi, Vice President and Head of Samsung Electronics’ Investor Relations Team, said “Despite the difficult business environment including reduced IT demand caused by the economic slowdown, we achieved record-high results both in terms of sales and operating profit in 2010. However, considering overall business conditions, unlike 2010, we expect the traditional earnings pattern of a weak first half, with a strong second half to return in 2011.”

Samsung sold 80.7 million units in Q4, up 17% on the same quarter in 2009, bringing total sales for the year to 280 million units (up 23%). 10 million of these are Samsung's flagship Galaxy S smartphone, which was launched in June. The company is aiming to sell 60 million smartphones this year, double that of 2010.

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Author: The Fonecast
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