Investors were disappointed the second quarter, Samsung

April 16, 2008, 2:04 am

   The high level of sales of LCD panels and profitable business for the production of mobile phones has helped Samsung Electronics confident to achieve growth of net profit in the second quarter. The company recorded quarterly net profit of $ 2, 1 billion, exceeding by 51% last year`s figure, revenues increased by 24% to $ 18, 1 billion
But these results could be even higher, but were adjusted declining demand for IT-market and the general decline of the global economy. Increased costs due to higher oil prices and raw materials."The business environment is unfavourable,"- said Chu Uousik (Chu Woosik), Samsung head office to work with investors.
In the telecom sector, which is one of the main business strategy Samsung, sales volume increased by 27% through the implementation of 45, 7 million devices. During the first half of the year has sold nearly 92 million with an increase of 20% from last year`s result.
Sales of LCD panels increased by 41% against the backdrop of strong demand for televisions and PC markets. Margin amounted to 21%. Despite the risks arising in the global economy, Samsung will not reduce the production of flat LCD panels and will hold the growth of sales amounting to two significant figures in the second half of 2008, the company said. In doing so, sales of chips rose only by 7% to $ 4, 6 billion
Following the outcome of the second quarter ad campaigns Samsung struck at 6, 19%, which is the largest fall in the last four years. Analysts expected the company`s earnings average $ 2, 3 billion


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