Samsung records $4.5 billion net profit
Seoul: South Korea’s Samsung Electronics Friday posted a record net profit of 5.19 trillion won ($4.53 billion) in the second quarter, powered by strong smartphone sales despite the global downturn.
The company, the world’s biggest technology firm in revenue terms, also reported a record operating profit in April-June of 6.72 trillion won.The net profit represented a 48 percent gain from a year earlier while operating profit jumped 79 percent year-on-year.
Samsung attributed its record figures to robust demand for mobile devices including high-margin smartphones, along with strong sales of its ultra-thin displays.Total revenue rose 21 per cent to 47.59 trillion won, in a quarter that is usually quieter for technology companies.
Analysts were more upbeat, expecting an even better performance in coming quarters. They said smartphone earnings —which account for more than 50 per cent of operating profit — would remain a strong contributor to the bottom line. The company has sold more than 10 million Galaxy S III phones since its launch about two months ago.
Category: Business, Business News
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