ID :
118988
Tue, 04/27/2010 - 15:36
Auther :

(LEAD) Samsung SDI Q1 net declines 12 pct on strong won


(ATTN: RECAST headline; ADDS more details from para 4)
By Lee Youkyung
SEOUL, April 27 (Yonhap) -- Samsung SDI Co., the world's No. 2 maker of
lithium-ion batteries, said on Tuesday its net profit fell 12.05 percent in the
first quarter from a year earlier due to the local currency's strength.
The bottom line stood at 46.7 billion won (US$42.26 million) in the January-March
period, compared with 53.1 billion won a year earlier, the company said in a
regulatory filing.
Sales reached 1.2 trillion won, up 17.8 percent in the period from a year ago,
while operating profit surged 72.27 percent to 64.6 billion won, the Suwon, South
Korea-based company said.
Shares of Samsung SDI closed at 145,500 won on the Seoul bourse, down 2.02
percent from Monday's close.
The company said the on-year net decline was due to the South Korean won's steep
appreciation against the U.S. dollar and a one-time increase in last year's net
profit that was attributable to gains from equity investment in Samsung Mobile
Display.
Samsung Mobile Display is a joint venture between Samsung SDI and Samsung
Electronics Co.
The surge in operating profit stemmed from robust sales in its two major
businesses -- lithium-ion batteries and plasma display panels (PDP) -- as demand
for tablet PC batteries and three-dimensional (3D) TV displays rose, the company
said.
A fall in panel prices was offset by the 12 percent sales growth in the PDP
markets in Southeast Asia and China, it said.
Samsung SDI said that its sales are expected to increase through the first half
of this year as bullish demand for smartphones, tablet PCs and new products such
as 3D PDP TVs will boost its key businesses. The global rechargeable battery
market will likely expand 10 percent in the second quarter from a year ago due to
rising laptop computer and smartphone production, the company said.
The expected launch of 3D PDP TV production by global TV makers such as Samsung
Electronics is expected to drive the demand for PDPs in the second quarter, it
added.
ylee@yna.co.kr
(END)

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