Last year Samsung earnings dropped by 72%

 
April 26, 2009, 7:24 am

   The company Samsung Electronics has published a report on its activities in the first quarter of 2009. During the reporting period, Samsung`s net profit amounted to only $ 459 million, which is 72% less compared to first quarter last year. But the manufacturer does not seem to be especially discouraged, explaining optimism that the first quarter of 2009 was still better than the fourth quarter of last year, when they were recorded multimillion losses. The income of the company fell by 13% compared with the previous quarter, but instead of loss the company received a good profit.
Business to produce chips, which is one of the most important activities of the South Korean giant, showed a 5 per cent decline - profit in this industry totaled $ 2, 8 billion Samsung representatives believe that the difficulties in the area of memory chips will occur in the second quarter.
The pride of the company is a unit to develop mobile phones that Samsung has the most revenue. The level of income in this segment increased by 36% and operating profit reached $ 697 million mark. In the fourth quarter 2008 earnings of telephone business was only $ 118 million.
In passing, we note that one of the main rivals Samsung, LG company recently otraportovala of serious losses, but volume shipments of its phones dropped by 7%. Sales of Nokia phones dropped by 19% compared with last year, while Sony Ericsson announced a reduction in sales by 35%.
In general, the business of Samsung Electronics, the consumer release gave a profit of $ 111 million Despite the improvement compared to the fourth quarter of 2008, the company is not confident in the success of the second quarter due to uncertainty in the global economy.

 

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