Samsung's Q3 Report Shows Profit Up 12 Percent To $2.3 Billion
Seoul, Korea (AHN) - Record-high cell phone sales, coupled with brisk orders for semiconductor and flat-panel display products, boosted Samsung Electronics Co. Ltd. profits in its quarterly financial report. Operating profit was up 12 percent from last year's third quarter to $2.3 billion USD.
Samsung sold a record 42.6 million of its slim-line "Ultra edition" 3G cell phones from July to September. Sales in the first nine months of the year hit 115 million handsets, up one million from the same period last year.
Earlier this week Samsung announced three new phones scheduled for release on the European market and expects to sell 157 million units.
The popularity of flat-screen TVs and computer monitors also boosted sales. The 2008 Beijing Olympics is expected to give another boost to the liquid crystal display (LCD) industry. During the quarter, sales in Samsung's telecommunications sector made it the largest of all Samsung's business divisions by sales.
"We are expecting all of our four major businesses to be running at full gear in Q4," Chu Woosik, executive president of Samsung's investor relations team, told PC World.
However, the world's top memory chip maker warned weak memory chip prices would fall further because of a global oversupply. Average prices of DRAM chips, widely used in personal computers, and NAND flash memory chips, used in digital cameras and portable music players, could drop by around 15 percent in the fourth quarter, Samsung said.
Samsung is South Korea's most valuable company, with a market value of about $89 billion. After Nokia, it is the world's second-largest maker of mobile phones.
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Samsung sold a record 42.6 million of its slim-line "Ultra edition" 3G cell phones from July to September. Sales in the first nine months of the year hit 115 million handsets, up one million from the same period last year.
Earlier this week Samsung announced three new phones scheduled for release on the European market and expects to sell 157 million units.
The popularity of flat-screen TVs and computer monitors also boosted sales. The 2008 Beijing Olympics is expected to give another boost to the liquid crystal display (LCD) industry. During the quarter, sales in Samsung's telecommunications sector made it the largest of all Samsung's business divisions by sales.
"We are expecting all of our four major businesses to be running at full gear in Q4," Chu Woosik, executive president of Samsung's investor relations team, told PC World.
However, the world's top memory chip maker warned weak memory chip prices would fall further because of a global oversupply. Average prices of DRAM chips, widely used in personal computers, and NAND flash memory chips, used in digital cameras and portable music players, could drop by around 15 percent in the fourth quarter, Samsung said.
Samsung is South Korea's most valuable company, with a market value of about $89 billion. After Nokia, it is the world's second-largest maker of mobile phones.
source
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