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Friday, July 27, 2012

Samsung reports 'stable profits' in quarterly results

Samsung Electronics has announced its quarterly results, publishing a revenue figure that’s up 21% year-on-year to 47.60 trillion Korean won (£26.6 billion). Net profit was up to KRW 5.19 trillion.

The company’s Mobile Communications business reported a 75% increase in earnings, with revenue reaching KRW 20.52 trillion. Handset shipments were said to be up quarter-on-quarter and year-on-year, although specific figures weren’t published.

Robert Yi, Samsung’s Senior Vice President and Head of Investor Relations, said “Despite a difficult business environment, we achieved stable profits in the second quarter through our differentiated products and competitive technology. As we move into the second half, continued fiscal instability in Europe and its effect on the global economy will result in the possibility of a slower-than-expected recovery and intensified market competition.”

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Author: The Fonecast
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