Appliances and consumer electronics OEM Samsung Electronics Co. told attendees at its 42nd annual shareholders meeting that 2010 revenue was at an all-time high of 154.63 trillion won, up 13% from the previous year. Consolidated net income also reached a record high of 16.15 trillion won.
“Even amid continuing effects of the global financial crisis, Samsung was last year able to achieve its highest sales and net income since our establishment in 1969,” said Geesung Choi, vice chairman and CEO of Samsung Electronics. “2010 was a year in which we came out on top in the electronics industry and strengthened our position as a leading global company.”
Mr. Choi said, however, that 2011 will be a challenging year for electronics companies, as intensifying competition continues to put pressure on profit margins.
to Daily News