(LEAD) Samsung Electronics posts record sales, profits in Q4

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By Lee Youkyung
SEOUL, Jan. 29 (Yonhap) -- Samsung Electronics Co., the world's largest maker of
computer memory chips and flat screens said Friday that it posted record
quarterly sales and profits in the fourth quarter of 2009 from a year earlier,
thanks to the better-than-expected performance of its chips and panel businesses.

Operating profit reached 3.7 trillion won (US$3.19 billion) in the three months
to December, compared with an operating loss of 740 billion won in the same
quarter of the previous year, Samsung said in a regulatory filing.
The operating income, however, is smaller than the 4.23 trillion won from the
previous quarter.
Sales rose 19 percent from a year ago to a quarterly record of 39.24 trillion won
over the cited period. The figures are consolidated, meaning they include
financial results from Samsung's overseas units.
Samsung said revenues and profits from its memory chip division surged on
seasonally high demand and a rise in key prices. Memory chip division accounted
for more than half of Samsung's fourth-quarter operating profits.
A slowdown in price declines of liquid crystal display panels led to a
better-than-expected performance of its liquid-crystal-display (LCD) panel
business, while handset sales and televisions gained market shares.
"In 2009, earnings significantly improved due to the better-than-expected demand
and limited supply increase and our market dominance in LCD TVs," Robert Yi, head
of Samsung's investor relations team told a conference call.
Samsung said it expects to report strong earnings in the current quarter, as
higher memory chip prices and a decrease in marketing spending would offset
seasonally low demand for other consumer electronics.
For the whole year ahead, Samsung said a slowdown in the global economic recovery
due to a possible exit strategy and the Korean currency's ascent against the U.S.
dollar remain key concerns.
Shares of Samsung Electronics were trading at 793,000 won on the Seoul bourse as
of 11:21 a.m., down 1.86 percent from Thursday's close.
ylee@yna.co.kr
(END)

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