Samsung Reports Declined Q2 Income Jul 14, 2006

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Consumer electronics maker Samsung Electronics Co., Ltd. announced net income declined 89 percent to 1.5 trillion won (approx. U.S. $1.6 billion) in the second quarter ended June 30, 2006 compared to 14.1 trillion won (approx. $14.8 billion) in 2005.

Sales of the company's Digital Appliance Business increased 13 percent quarter-on-quarter to 770 billion won (approx. $806 million) with seasonal gains in air-conditioner sales.

The LCD Business reported revenue and operating income of 2.85 trillion won (approx. $2.9 billion) and 75 billion won (approx. $78.5 million), respectively. Sales of 40-inch and larger panels increased 87 percent quarter-on-quarter to 1.2 million panels due to strong demand for larger TVs.

Samsung plans to increase monthly capacity of its Line 7-1, the S-LCD joint venture, to an additional 15,000 units during the third quarter due to increasing demand for larger TVs and strengthen its market leadership in the segment.

Samsung's Digital Media Business posted an operating loss of 60 billion won (approx. $62.8 million) on revenue of 1.6 trillion won (approx. $1.7 billion).

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