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Samsung Q1 Profit Soars 37 Percent, Outlook Strong |
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Samsung Q1 Profit Soars 37 Percent, Outlook Strong
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By Allen Tsai | Fri Apr 25, 2008 5:51 am |
Samsung Electronics beat forecasts with a 37 percent rise in quarterly profit amid strong demand for mobile phones in emerging markets. Its outlook remained solid due to strengths in TV screens and handsets, lifted by a softer Korean won and robust demand.
Samsung earned 2.19 trillion won ($2.2 billion) in the January-March period compared with 1.6 trillion won in the same period last year. Sales rose 19 percent to 17.11 trillion won ($17.19 billion), the company said."Our handset business is growing very strong," said Chu Woo-sik, executive vice president for investor relations. Chu cited 33 percent growth in handset sales year-over-year. Emerging markets, including China and India "continued to be the main driver of growth," he said. In a separate statement, Samsung said mobile phone sales "achieved similar volume" to the fourth quarter's record sales of 46.3 million handsets, despite contraction of about 13 percent in the global market. On Tuesday, the group's long-serving chairman announced his resignation over a scandal that led to his indictment on tax evasion and other charges.
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Thu Feb 09, 2012 12:41 pm | By
Apple may shift litigation strategies, attacking the process of "copying" rather than products, after losing a critical patent battle to Samsung in Germany, raising questions of the iPad maker's costly and aggressive tactics.
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Mon Feb 06, 2012 12:09 pm | By
Samsung's ultra-slim Galaxy S3's sleeker design and other rumored features could directly compete with Apple's iPhone 5 when released this spring.
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Fri Feb 03, 2012 11:53 am | By
Apple is widening its patent case against Samsung in Australia, suggesting the lawsuit between the two competitors is going to intensify before any resolution.
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Wed Feb 01, 2012 4:00 pm | By
Samsung will delay the release of the Galaxy S3 smartphone until later this year, banking on the success of current offerings to produce strong sales well into 2012.
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Tue Jan 31, 2012 2:21 pm | By
The European Commission is investigating whether Samsung's use of patents to sue Apple breaks EU antitrust rules, a development that may put the company's expanding cases and other companies' court actions in jeopardy.
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More Phones: Samsung |
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Editorials & Opinion
By Margaret Rock
The 54th Grammy Awards is just days away, and the show will harness mobile and social media technology as old media tries to keep pace with new trends among its viewing audience.
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