Samsung Electronics today announced its first quarter results which stood at 28.67 trillion won, 13 percent down from the last quarter of 2008. Thanks to an increase in equity income, its net income reached 620 billion won and operating profit at 470 billion won after last quarter’s dismal 740 billion won loss on a consolidated basis.
Samsung’s mobile handset business was the one posting an operating profit and scoring a growth of 11 percent. The mobile handset division revenues stood at 9.77 trillion won and an operating profit of 1.12 trillion. Samsung expects the demand for the phones to be weak in the second quarter but smartphones, 3G enabled and touch phones will see a rise.
Its semiconductor business reported a revenue of 5.52 trillion and an operating loss of 670 billion won but fared better against the last quarter. Though they have reduced the DRAM production, the system LSI is suffering because of the seasonal factors. They have forecasted a better second quarter with the rise in demand.
Samsung’s LCD business also suffered an operating loss of 310 billion won but managed outperform the competition with the sales of its large sized panels. The second quarter is expected to give some breather with the increased demand in developed markets.
The digital media biz also did not see a major growth but registered an operating profit of 380 billion won. Samsung is banking on its newly LED TVs launched to spell some magic for them in the next quarter.
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