The Inquirer-Home

Samsung soars with an $8.2bn quarter

Company says smartphone sales helped drive revenues
Fri Jan 25 2013, 02:22
Samsung logo

KOREAN HARDWARE GIANT Samsung is crediting its mobile devices unit with driving a 10 per cent jump in profits.

The company said that in the quarter it logged some 8.84tn Korean Won, or about $8.2bn, in profits from 56.06tn Won in revenues.

Much of that jump was credited to the company's highly successful Galaxy handset and tablet division. Samsung reported that its mobile business accounted for 27.23tn Won in revenues and 5.44tn Won in profits.

The company has seen its share of the mobile market boom in recent months. Last November the company was said by researchers to control nearly 23 percent of the global phone market.

While mobile returns were up for Samsung, the firm saw other parts of its business struggle. The company said that the market for its DRAM chips remained soft, while TV and home appliance demand weakened in December.

Other areas however, including the NAND mobile memory market, were able to pick up the slack and help their respective business units turn a profit.

"Despite uncertainties in Europe and concerns over the US fiscal cliff creating a difficult business environment, we did our best this quarter to achieve strong earnings based on a strategic focus on differentiated and high value-added products as well as our technological competitiveness," said Samsung SVP and head of investor relations Robert Yi.

"Heading into this year, we are expecting a slow recovery in the component business due to reduced capital expenditures, while competition in the set business will intensify further as demand slows and the mid- to low-end market expands."

Going forward, the company said that it expects its expenditures to be near 2012 levels, though Samsung noted that it could change its plans should the global economic outlook shift. µ


Share this:

blog comments powered by Disqus
Subscribe to INQ newsletters

Sign up for INQbot – a weekly roundup of the best from the INQ

Existing User
Please fill in the field below to receive your profile link.
Sign-up for the INQBot weekly newsletter
Click here
INQ Poll

Microsoft Windows 10 poll

Which feature of Windows 10 are you most excited about?