Samsung achieves record net profit

27 Jul 2012, 11:07 am   -   Source: AFP
Share This
0 
+ Comment
1
Strong smartphone sales have helped Samsung post a record net profit, despite the global downturn. (AAP)

Strong smartphone sales have helped Samsung post a record net profit, despite the global downturn. (AAP)

South Korea's Samsung Electronics Friday posted a record net profit of 5.19 trillion won ($4.53 billion) in the second quarter, powered by strong smartphone sales despite the global downturn.

RELATED

South Korea's Samsung Electronics Friday posted a record net profit of 5.19 trillion won ($4.53 billion) in the second quarter, powered by strong smartphone sales despite the global downturn.
  
The firm also reported a record operating profit in April-June of 6.72 trillion won.
  
The net profit figure represented a 48 percent gain from 3.506 trillion won a year earlier while operating profit jumped 79 percent year-on-year.
  
Samsung attributed its record figures to robust demand for mobile devices including high-margin smartphones, along with strong sales of its ultra-thin displays.
  
Total revenue rose 21 percent to 47.59 trillion won, in a quarter that is usually quieter for technology companies.
  
Analysts expect an even better performance in coming quarters, with smartphone earnings -- which account for more than 50 percent of operating profit -- remaining a strong contributor to the bottom line.
  
"The mobile division, which alone will see an operating profit of 4.8 trillion won in the third quarter, was helped by sales of the Galaxy S III smartphone, and it will lead the firm's overall growth," said Y.B. Oh, an analyst at Hanmag Securities.
  
The company has sold more than 10 million Galaxy S III models since its launch about two months ago.
  
Oh said the chip division would also register its biggest profit of around 1.6 trillion won in the third quarter, with prices expected to stabilise due to new product releases.
  
-- Dow Jones Newswires contributed to this report --

  • Follow us: 
  • Follow us on Facebook
  • Follow us on Twitter
  • Follow us on Youtube

Your Comments

Lol

Ryan - from Brisbane, 10 months ago

Samsung are garbage get an iPhone! They do make good Tvs and household products through...

Join the Discussion

Name
City / Suburb E.g. Artarmon, Sydney
Title
Comment
You have characters remaining.
Validation
What's this?
This is a captcha-picture. It is used to prevent mass-access by robots.
All submitted comments become the property of SBS. They are moderated, so we reserve the right to edit comments and remove HTML tags. Not all submitted comments will be published. Publication does not mean we endorse the opinions expressed. Please read our terms and conditions for more information.