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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

 
Update
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1 hour ago

Samsung Electronics says its 2Q profits plunge 20 per cent

Jul 30 2014 7:15pm CDT | Source: Canadian Business Online

SEOUL, South Korea – Samsung Electronics Co. says its second-quarter profit dropped 20 per cent as smartphone and tablet sales fell. The South Korean company said Thursday that its net income during the April-June quarter was 6.3 trillion won ($6.1 billion), compared with 7.8 trillion won a year earlier. That was the lowest since the second quarter of 2012 and below forecasts. Analysts surveyed by FactSet forecast 6.5 tri ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
10

1 day ago

The World's Most Potentially Dangerous Airport Is Nowhere Close To The Middle East

Jul 29 2014 10:28am CDT | Source: Business Insider

What might be the world's most dangerous airport is far away from the ongoing turmoil in Israel, Syria, Iraq, or Ukraine. Instead, the airport most susceptible to a rocket strike on an incoming plane among those used by major carriers could be Incheon International Airport, near Seoul, South Korea. Incheon is considered one of the best airports in the world. It won a 2014 Airport Service Quality Award ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
9

2 days ago

Samsung postpones release of Tizen smartphone in Russia as it seeks to improve ecosystem

Jul 28 2014 5:39am CDT | Source: Canadian Business Online

SEOUL, South Korea – Samsung Electronics Co. says it is delaying sales of its first Tizen-powered smartphone. The South Korean company had planned to start selling the phone in Russia this quarter but said Monday that Tizen needs more time to expand its following of app developers and apps. The delay is a setback for Samsung’s push to reduce reliance on Google’s Android operating system, which pow ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
8

4 days ago

North Korea fires short-range missile into sea

Jul 26 2014 2:00pm CDT | Source: The Nation - Pakistan

SEOUL : North Korea fired a short-range missile into the sea on Saturday, the 15th time it has launched rockets this year, the South's Yonhap news agency reported. South Korea's Joint Chiefs of Staff in a statement said the North "fired a short-range missile presumed to be a Scud-type one into the East Sea" (Sea of Japan) at 09:40 pm (12:40 GMT ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
7

5 days ago

South Korea news agency says police detain eldest son of sunken ferry owner.

Jul 25 2014 5:47am CDT | Source: Canadian Business Online

SEOUL, South Korea – South Korean news agency says the eldest son of the sunken ferry owner has been detained by police after two months on the run. Yonhap News Agency said Friday that Yoo Dae-gyun was picked up from an office south of Seoul, just three days after his billionaire father was found dead. Authorities have sought Yoo, a major shareholder in the operator of the ferry that sank in April, along with his 73-year-old father w ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
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6 days ago

South Korea’s growth hits lowest level in 3 quarters on weak consumer spending

Jul 23 2014 8:31pm CDT | Source: Canadian Business Online

SEOUL, South Korea – South Korea’s economic growth has hit its lowest level in three quarters. The Bank of Korea said Thursday that growth in Asia’s fourth-largest economy slowed to 3.6 per cent during the April-June period over a year earlier, after expanding 3.9 per cent during the first quarter. From the previous quarter, it expanded 0.6 per cent, the slowest pace in more than a year. The central bank said even though exports continued solid growth, consumer spending turne ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
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4

1 week ago

LG Display’s 2Q profit jumps as demand for big ultra-high-definition TV rises, currency rates

Jul 23 2014 2:01am CDT | Source: Canadian Business Online

SEOUL, South Korea – LG Display Co. says its earnings for the April-June quarter more than doubled thanks to improved demand for ultra-high-definition TVs. The South Korean display panel maker said Wednesday its net income reached 256 billion won ($250 million), compared with 105 billion won a year earlier. Analysts polled by FactSet, a financial data provider, expected profit of 114 billion won. The panel supplier for Apple Inc. said higher demand for UHD TVs during the World Cup in ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
3

1 week ago

Body found of fugitive South Korea ferry owner

Jul 22 2014 2:00pm CDT | Source: The Nation - Pakistan

South Korean police said Tuesday they had found the body of fugitive business tycoon Yoo Byung-Eun, the target of a months-long manhunt connected to April's Sewol ferry disaster that claimed around 300 lives. The heavily decomposed corpse of the 73-year-old Yoo was discovered on June 12 lying on the ground in a plum orchard in Suncheon, a city 300 kilometres (186 miles) south ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
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1 week ago

Seoul is planning its own version of Uber’s ride hailing app. But it wants the original banned.

Jul 21 2014 2:28pm CDT | Source: The Washington Post

It's no secret that not everyone loves Uber. While some urban users rave about the car hailing and ride-sharing mobile app, not all cities share the sentiment -- with some even banning the service.  And now Seoul, the capital of South Korea, says it will create its own version of the app -- while declaring that the original app is illegal, the Wall Street J ...
Source: The Washington Post   Full article at: The Washington Post
 

 
Update
1

1 week ago

Seoul city officials allowed to sleep on job

Jul 21 2014 8:10am CDT | Source: FT

South Korean capital’s metropolitan government allows its workers to take an afternoon nap as it attempts to raise productivity amid long-hours culture ...
Source: FT   Full article at: FT
 

 

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