360° Coverage : Samsung's Q2 earnings hit new high on smartphone sales

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Samsung's Q2 earnings hit new high on smartphone sales
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Samsung's Q2 earnings hit new high on smartphone sales

Jul 26 2013, 2:38am CDT | by IANS

Seoul, July 26 (IANS) Samsung Electronics, the world's largest maker of handsets, memory chips and flat screens, said Friday that its operating profit hit a new quarterly high in the second quarter on robust demand for its flagship smartphones and mobile device-related components.

Seoul, July 26 — Samsung Electronics, the world's largest maker of handsets, memory chips and flat screens, said Friday that its operating profit hit a new quarterly high in the second quarter on...

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1 year ago

Samsung's Q2 earnings hit new high on smartphone sales

Jul 26 2013, 2:38am CDT | by IANS

Seoul, July 26 (IANS) Samsung Electronics, the world's largest maker of handsets, memory chips and flat screens, said Friday that its operating profit hit a new quarterly high in the second quarter on robust demand for its flagship smartphones and mobile device-related components.

Seoul, July 26 — Samsung Electronics, the world's largest maker of handsets, memory chips and flat screens, said Friday that its operating profit hit a new quarterly high in the second quarter on robust demand for its flagship smartphones and mobile device-related components.

Operating profit jumped 47.5 percent from a year earlier to 9.53 trillion won ($8.54 billion) in the three months ending June 30, the company said in a statement.

The figure topped the previous record high of 8.84 trillion won tallied in the fourth quarter of last year, reported Xinhua.

Sales increased 20.73 percent year-on-year to 57.46 trillion won in the second quarter, breaching the prior high of 56.06 trillion won registered in the fourth quarter of 2012.

Net profit was 7.77 trillion won, up 49.69 percent from a year earlier and rising 8.65 percent from three months ago.

The IT & Mobile Communications (IM) division, which makes handsets, logged an operating profit of 6.28 trillion won on a revenue of 35.54 trillion won, which accounted for more than 60 percent of the total sales.

Solid sales of Samsung flagship Galaxy S4 and Galaxy Note 8.0 drove the outperformance. Sales of Galaxy S4, the latest version of the Galaxy series, were estimated at over 20 million units during the quarter. Combine sales of smartphones, including previous models such as Galaxy S3, were estimated at 74.5 million units, up 5.7 percent from three months earlier.

The semiconductor business registered 8.68 trillion won in revenue. Global demand for PC DRAM remained weak, but orders for high value-added server and mobile DRAMs stayed strong, the company said, noting that steady demand for affordable smartphones and tablets shored up NAND sales.

Samsung planned to ramp up sales of application processors, saying that demand for the components would grow as mobile devices needing more processing power roll out into market in the remaining quarters.

The display panel business posted an operating profit of 1.12 trillion won on a revenue of 8.18 trillion won in the second quarter. The revenue jumped 46 percent compared with three months earlier on the back of sales in high value-added panels.

The company said it improved profitability in the quarter by expanding sales in high value-added products such as high- resolution display for tablets, large-size premium TV panels and OLED displays for smartphones.

The TV-making consumer electronics division logged an operating profit of 430 billion won on a revenue of 12.78 trillion won. Sales of premium TVs and strong seasonality for air conditioners helped improve the division's sales performance.

Samsung drew a rosy picture for future earnings. "We expect to improve profit yields in the second half due to high-margin, differentiated components products, as well as gains stemming from increased smartphone and TV shipments," said Robert Yi, senior vice president of Samsung.

Samsung spent 5.2 trillion won on facility investment in the second quarter. A total of 9 trillion won, or 38 percent of this year's planned capital expenditure, was made in the first half of 2013.

IANS

Source: IANS

 
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South Korea cuts interest rate for second time in three months

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Seoul (AFP) - South Korea's central bank cut interest rates for the second time in three months on Wednesday, in a further effort to boost an economy struggling with weakening demand at home and abroad.The Bank of Korea (BOK), which has come under government pressure to help inject some pace into the country's slow economic recovery, cut its benchmark rate by 25 basis points to 2.0 percent.It followed a similar cut in August tha ...
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SEOUL, South Korea – South Korea’s central bank has lowered its key interest rate to a record low as it tries to bolster a fragile economic recovery. The Bank of Korea said Wednesday it trimmed the key rate by a quarter of a percentage point to 2 per cent. It was the second rate cut this year after the central bank lowered lending costs in August. Analysts had expected another rate cut as South Korea’s finance minister continued to say the recovery in Asia’s fourth-largest economy was fr ...
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SEOUL, South Korea (AP) — After an avalanche of data breaches, South Korea’s national identity card system has been raided so thoroughly by thieves that the government says it might have to issue new ID numbers to every citizen over 17 at a possible cost of billions of dollars. The admission is an embarrassment for a society that prides itself on Read More...The post South Korea identity thefts forces ID overhaul appeared first on Chronicle-Telegram.Click here to read th ...
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N. Korea's Kim reappears after extended absence

Oct 13 2014 6:05pm CDT | Source: Business Insider

Seoul (AFP) - North Korea's leader Kim Jong-Un has made his first public appearance for more than a month, with state media on Tuesday reporting a visit to a new housing complex in Pyongyang.It marked the first time Kim has been seen since early September -- an extended absence that fuelled intense speculation, including rumours of a serious illness or even a coup.The North's official KCNA news agency said Kim made a "field guidance" ...
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SEOUL, South Korea – World stock markets were lower Monday, shrugging off robust Chinese trade figures as investors exited riskier assets after concerns resurfaced about the global economic outlook. KEEPING SCORE: France’s CAC 40 was down 0.3 per cent at 4,062.21 and Germany’s DAX shed 0.2 per cent to 8,776.88. Britain’s FTSE 100 dropped 0.3 per cent to 6,322.91. Futures pointed to losses on Wall Stre ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
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5

1 week ago

North Korea says talks with South 'all but scrapped'

Oct 11 2014 12:08am CDT | Source: Business Insider

Seoul (AFP) - North Korea's state media said on Saturday high-level talks with the South were now all but scrapped due to the launch of anti-Pyongyang propaganda leaflets from the South a day earlier.The two Koreas traded heavy machine-gun fire across their border Friday, triggered by the North Korean military trying to shoot down balloons carrying the leaflets, launched by activists in the South.Some rounds fell on the Southern side, which then responded wi ...
Source: Business Insider   Full article at: Business Insider
 

 
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1 week ago

North, South Korea trade heavy machine-gun fire on border

Oct 10 2014 5:56am CDT | Source: Business Insider

Seoul (AFP) - North and South Korea exchanged heavy machine gun fire across their border Friday, after the North fired at balloons carrying anti-Pyongyang leaflets launched by activists in the South, military officials said.No casualties were reported, although some residents of Hapsuri township in the South Korean border area of Yeoncheon were evacuated to shelters as a precaution, a defence ministry spokes ...
Source: Business Insider   Full article at: Business Insider
 

 
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3

1 week ago

Two Koreas exchange fire at border: military

Oct 10 2014 5:14am CDT | Source: Business Insider

Seoul (AFP) - North and South Korea exchanged fire across their land border on Friday, the South's military said, after activists launched balloons carrying anti-Pyongyang leaflets into the North."There was an exchange of fire," an official at the Joint Chiefs of Staff office said, without elaborating.There were no reports of any casualties.According to South Korean media reports citing military sources, North Kore ...
Source: Business Insider   Full article at: Business Insider
 

 
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2

1 week ago

Seoul Plays Down Kim's Absence

Oct 9 2014 10:08pm CDT | Source: WSJ.com: Asia Home

Seoul said it believes North Korea’s leadership under Kim Jong Un remains normal despite the dictator’s absence from the public eye for over a month. North Korea observers are closely watching whether Mr. Kim appears at an event on Friday. ...
Source: WSJ.com: Asia Home   Full article at: WSJ.com: Asia Home
 

 
Update
1

1 week ago

South Korean town votes no to nuclear power plant; government rejects the ballot

Oct 9 2014 9:12pm CDT | Source: Canadian Business Online

SEOUL, South Korea – Voters in a South Korean city rejected a nuclear power plant in a referendum that the government says has no legal effect. The result of Thursday’s vote was expected since Samcheok city in South Korea’s east coast elected a mayor who pledged to push the government to scrap the nuclear power plant. A private election committee said 85 per cent of 28,867 who cast ballots said no. Out of 42,488 who registered to take part, the turnout rate was 68 ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 

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