Samsung Digital Appliances Reports Strong 2Q With Help from AC Demand Aug 1, 2012

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Samsung Electronics Co. announced revenues of 47.60 trillion Korean won (approx. US$42 billion) on a consolidated basis for its second quarter, a 21% increase year-on-year. Samsung's consolidated operating profit for the quarter was at a record high of 6.72 trillion won, up 79% year-on-year. Consolidated net profit for the quarter (April-June 2012) was 5.19 trillion won (approx $4.6 billion).

Samsung's Consumer Electronics Division, encompassing its Digital Appliances businesses and Visual Display business - reported 2Q revenue of 12.15 trillion won (approx. $10.7 billion), up 7% from 2Q 2011. The Consumer Electronics Division's operating profit was 760 billion won (approx 670 million), up 66% from the same period last year.

Samsung said TV demand was flat but the company posted improvements in shipments and profitability. The company increased sales in developed markets for its premium TVs and expanded region-specific LED TV models in emerging markets.

In the Digital Appliances business, sales of air-conditioners rose, helped by strong seasonal demand and favorable market conditions in emerging markets. In the third quarter of 2012 Samsung will focus on expanding sales of premium products and stabilizing overseas operations in the face of a possible slowdown in emerging markets and weak consumer sentiment in developed markets.

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