Samsung Reports Q2 Results, to Raise LCD Production Jul 16, 2004

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Samsung Electronics Co. announced that its net profit nearly tripled in the second quarter, but analysts said it failed to meet the expectations of investors, who had hoped for much better numbers.

For the 3 months ending June 30, 2004, the company's net profit increased to 3.13 trillion won (approx. U.S. $2.7 billion) compared with 1.13 trillion won from the same period in 2003. Sales increased a record 52.3 percent year-on-year to 14.98 trillion won. According to Samsung, the increase was due to strong sales of semiconductors and flat-panel screens.

The company also announced that it will soon increase the monthly production of liquid crystal display (LCD) screens.

The company plans to raise the production of its fifth and sixth LCD lines to 120,000 from the current 100,000, and it will also upgrade the production of the first and second LCD lines to 6 million from 4 million, according to officials. (Yonhap)

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