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

 
Update
10

6 weeks ago

LG, Google strike patent-sharing deal

Nov 4 2014 8:48pm CST | Source: Business Insider

Seoul (AFP) - LG Electronics said Wednesday it had signed a long-term cross-licence deal with Google as the South Korean firm tries to expand its smartphone business.The deal covers patents on a "broad range of products and technologies" that already exist and will be filed in the next 10 years, the two firms said in a joint statement.Samsung -- LG's home rival and the world's top smartphone maker -- earlier struck a similar deal wit ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
9

6 weeks ago

Neuberger partners Samsung in Korea push

Nov 4 2014 6:47pm CST | Source: Asian Investor

The fund house continues its drive to expand in Seoul, with a newly minted tie-up with Samsung Asset Management and Samsung Securities and a new addition to it ...
Source: Asian Investor   Full article at: Asian Investor
 

 
Update
8

7 weeks ago

Image of Asia: Keeping watch over the iPhone line in South Korea

Oct 31 2014 9:32am CDT | Source: Canadian Business Online

In this photo by Ahn Young-joon, a phone store worker dressed as Santa Claus keeps customers in line as they wait to buy Apple’s iPhone 6, in Seoul, South Korea. The device went on sale Friday in South Korea, one of the world’s most wired societies, with 85 per cent of its 50 million people online and 40 million smartphones. South Korea is also home to the world’s top-selling smartphone maker Samsung, w ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
7

7 weeks ago

South Korea plans won-yuan direct trading

Oct 31 2014 4:53am CDT | Source: Business Day

Seoul considering selling sovereign debt denominated in Chinese currency for first time, about 10 banks to be appointed as market make ...
Source: Business Day   Full article at: Business Day
 

 
Update
6

7 weeks ago

Samsung posts 48.8% drop in Q3 net profit 

Oct 29 2014 6:51pm CDT | Source: Business Insider

Seoul (AFP) - Samsung Electronics said Thursday its third-quarter net profit plunged nearly 50 percent from a year ago to 4.22 trillion won ($4 billion).The South Korean electronics giant reported operating profit of 4.06 trillion won for July to September, down 60 percent from a year ago and slightly less than its earlier forecast of 4.1 trillion won. Sales also tumbled about 20 percent to 47.4 tril ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
5

7 weeks ago

LG Electronics reports Q3 profit jumps 87%

Oct 29 2014 2:37am CDT | Source: Business Insider

Seoul (AFP) - LG Electronics reported Wednesday an 87 percent jump in third-quarter net profit from a year ago after profits from its mobile unit surged to a five-year high.Net profit for the South Korean electronics giant in the July-September period amounted to 202.6 billion won ($193 million), up 87 percent from a year ago, the company said in a statement.Operating profit also jumped 112 percent to reach 461.3 bil ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
4

7 weeks ago

LG Electronics reports 87 per cent surge in 3Q profit as smartphone sales set record high

Oct 29 2014 12:22am CDT | Source: Canadian Business Online

SEOUL, South Korea – South Korea’s LG Electronics Inc. says its third-quarter profit jumped 87 per cent over a year earlier as smartphone sales set a record high. LG Electronics said Wednesday its July-September net income reached 202.6 billion won ($193 million) on sales of 14.9 trillion won. Operating income more than doubled from a year earlier to 461.3 billion won. LG said the solid earnings stemmed f ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
3

8 weeks ago

South Korea seeks death penalty for ferry captain

Oct 27 2014 5:51am CDT | Source: Elyria Chronicle-Telegram

SEOUL, South Korea (AP) — South Korean prosecutors on Monday demanded the death penalty for the captain of a ferry that sank earlier this year, killing more than 300 people, blaming his negligence and failure to rescue passengers in need for the massive loss of life, a court official and news reports said. Prosecutors also requested life Read More...The post South Korea seeks death penalty for ferry captain appe ...
Source: Elyria Chronicle-Telegram   Full article at: Elyria Chronicle-Telegram
 

 
Update
2

8 weeks ago

Kia Motors joins Hyundai in reporting 3Q profit fall as stronger won hits

Oct 23 2014 11:24pm CDT | Source: Canadian Business Online

SEOUL, South Korea – South Korea’s second-largest carmaker Kia Motors Corp. says its third-quarter income plunged 27 per cent from a year earlier as a stronger won dented profit. Kia said Friday its July-September net income fell to 657.4 billion won ($621 million) from 903.3 billion won a year earlier. From the previous quarter, the bottom line sank 36 per cent. Revenue inched down 2 per cent to 11.5 trillion won while operating income fell ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
1

8 weeks ago

South Korea’s economic growth slows to 3.2 per cent in 3Q, lowest in more than 1 year

Oct 23 2014 10:34pm CDT | Source: Canadian Business Online

SEOUL, South Korea – South Korea’s economic growth slowed to 3.2 per cent in the third quarter, the lowest in five quarters, as weakness in exports and spending by companies offset the boost from government stimulus. The Bank of Korea said Friday that Asia’s fourth-largest economy slowed from 3.5 per cent growth in the April-June quarter. Capital expenditure contracted 0.8 per cent from the previous quarter and exports turned negative while government spending contributed significantly to thi ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
 

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