ID :
213117
Fri, 10/28/2011 - 04:55
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Shortlink :
https://www.oananews.org//node/213117
The shortlink copeid
Samsung reports forecast-beating Q3 net on smartphones
(ATTN: RECASTS headline, lead; ADDS more details from 5th para)
SEOUL (Yonhap) - Samsung Electronics Co., the world's top memory chip supplier and second-biggest handset maker, reported on Friday better-than-expected earnings for the third quarter thanks to strong demand for its mobile products, mainly smartphones.
Net profit reached 3.44 trillion won (US$3.09 billion) in the July-September period, down 23 percent from a profit of 4.46 trillion won one year ago, Samsung said in a regulatory filing.
The figure beat a median market consensus of 3.24 trillion won, according to 12 analysts polled by Yonhap Infomax, the financial news arm of Yonhap News Agency.
Sales rose 3 percent on-year to 41.27 trillion won over the cited period, while operating profit fell 13 percent to 4.25 trillion won, in line with Samsung's earnings guidance released earlier this month.
Shares of Samsung Electronics were trading at 943,000 won on the Seoul bourse as of 9:40 a.m., up 2.06 percent from Thursday's close.
Despite a slow recovery in demand for TVs and personal computers in developed regions, booming demand for smartphones, mobile chips and mobile display panels, shored up Samsung's third-quarter earnings, the company said.
"In anticipation of an explosive growth in the mobile market, we have been focusing on fostering growth of certain component businesses, such as mobile DRAM, application processors, NAND and OLED panels," Robert Yi, Samsung's vice president and head of investor relations, said in a statement.
Samsung's telecommunication division logged a record quarterly operating profit of 2.52 trillion won, thanks to the Galaxy S2 smartphone that hit 10 million sales within five months of its debut.
The company said its smartphone sales spiked 300 percent from one year ago but fell short of disclosing the exact sales figure.
Analysts estimated Samsung had passed Apple in smartphone shipments during the third quarter and is likely to become the leading player in the fastest-growing mobile segment this year.
Apple said it sold 17.07 million iPhones over the cited period. Samsung sold more than 20 million smartphones in the third quarter, its mobile president Shin Jong-kyun said on Oct. 19.
Profit from sales of dynamic random access memory (DRAM) chips used in personal computers was thin, but strong demand for NAND flash memory, a key component in mobile devices, shored up Samsung's mainstay semiconductor operations.
The display panel business swung to the red from one year ago, posting an operating loss of 90 billion won, as a prolonged downturn in the TV market battered big-size panel prices. But the loss narrowed from the previous quarter on the back of the demand for advanced display panels, called OLED, and the growing tablet markets, it said.
In the fourth quarter, Samsung expects sales of mobile devices to remain strong and flat panel TV shipments to increase as the demand will peak during the year-end holidays.
The company is kicking off global sales of the Galaxy Nexus smartphone next month, pitting the new model based on Google Inc.'s latest software against the iPhone 4S from Apple.
But Samsung cautioned against slowing demand due to the lingering uncertainties in the global economy.
SEOUL (Yonhap) - Samsung Electronics Co., the world's top memory chip supplier and second-biggest handset maker, reported on Friday better-than-expected earnings for the third quarter thanks to strong demand for its mobile products, mainly smartphones.
Net profit reached 3.44 trillion won (US$3.09 billion) in the July-September period, down 23 percent from a profit of 4.46 trillion won one year ago, Samsung said in a regulatory filing.
The figure beat a median market consensus of 3.24 trillion won, according to 12 analysts polled by Yonhap Infomax, the financial news arm of Yonhap News Agency.
Sales rose 3 percent on-year to 41.27 trillion won over the cited period, while operating profit fell 13 percent to 4.25 trillion won, in line with Samsung's earnings guidance released earlier this month.
Shares of Samsung Electronics were trading at 943,000 won on the Seoul bourse as of 9:40 a.m., up 2.06 percent from Thursday's close.
Despite a slow recovery in demand for TVs and personal computers in developed regions, booming demand for smartphones, mobile chips and mobile display panels, shored up Samsung's third-quarter earnings, the company said.
"In anticipation of an explosive growth in the mobile market, we have been focusing on fostering growth of certain component businesses, such as mobile DRAM, application processors, NAND and OLED panels," Robert Yi, Samsung's vice president and head of investor relations, said in a statement.
Samsung's telecommunication division logged a record quarterly operating profit of 2.52 trillion won, thanks to the Galaxy S2 smartphone that hit 10 million sales within five months of its debut.
The company said its smartphone sales spiked 300 percent from one year ago but fell short of disclosing the exact sales figure.
Analysts estimated Samsung had passed Apple in smartphone shipments during the third quarter and is likely to become the leading player in the fastest-growing mobile segment this year.
Apple said it sold 17.07 million iPhones over the cited period. Samsung sold more than 20 million smartphones in the third quarter, its mobile president Shin Jong-kyun said on Oct. 19.
Profit from sales of dynamic random access memory (DRAM) chips used in personal computers was thin, but strong demand for NAND flash memory, a key component in mobile devices, shored up Samsung's mainstay semiconductor operations.
The display panel business swung to the red from one year ago, posting an operating loss of 90 billion won, as a prolonged downturn in the TV market battered big-size panel prices. But the loss narrowed from the previous quarter on the back of the demand for advanced display panels, called OLED, and the growing tablet markets, it said.
In the fourth quarter, Samsung expects sales of mobile devices to remain strong and flat panel TV shipments to increase as the demand will peak during the year-end holidays.
The company is kicking off global sales of the Galaxy Nexus smartphone next month, pitting the new model based on Google Inc.'s latest software against the iPhone 4S from Apple.
But Samsung cautioned against slowing demand due to the lingering uncertainties in the global economy.
