Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Samsung Reports Record Profits in Third Quarter
Nov 3, 2010
 Printable format
 Email this Article
 Search

Samsung Electronics reported revenues of 40.23 trillion Korean won (approx. US$36 billion) for the third quarter ended Sept. 30, 2010, up 12% over 3Q 2009. The figure tops the company's previous record for quarterly revenue (39.25 trillion won in 4Q 2009).

The Seoul-based maker of appliances and consumer electronics also set a quarterly record for net income: up 17% to 4.46 trillion won (approx $4 billion).

Samsung's Digital Appliance Business achieved growth of 25% quarter-on-quarter, but reported that increased costs and investments in production and sales infrastructure pushed the appliance business into a deficit.

"In the third quarter, Samsung faced a challenging business environment including declining demand for PCs and TVs, along with a continued economic slowdown in developed markets such as US and Europe,” said Robert Yi, vice president and head of Samsung Electronics’ Investor Relations Team. “Despite this, we achieved strong revenue growth and profitability, which was built upon our cost competitiveness in memory semiconductors and increased sales of cutting-edge products such as our latest smartphones.”

Samsung expects strong year-end demand for TVs and mobile handsets during the fourth quarter of 2010, but also warned of several potential challenges to 4Q earnings. It expects oversupply in the memory semiconductor market will lead to reduced prices, and prices for LCD panels are also expected to keep declining. Recent appreciation of the Korean won may also hurt 4Q earnings.

Back to Daily News

 

Daily News

...........................................................

Oct 23, 2014: Whirlpool Corporation to Showcase Resource-Efficient Technologies at Greenbuild

Oct 23, 2014: CWIEME Chicago exhibition had record attendees

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

Oct 22, 2014: Whirlpool Canada named 2014 Energy Star Manufacturer of the Year

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows