Printed from http://www.electronista.com

Samsung Q4 financials indicate first ever loss

updated 11:35 pm EST, Thu January 22, 2009

Samsung first ever loss

Samsung has joined the group of companies that have been hit particularly hard by the current state of economic strife, with its Q4 financial disclosure indicating an operating loss of 940 billion won (~$680 million USD). Quarterly net income totaled a loss of 20 billion won (~$14 million USD) and marks a first ever for the South Korean company. Contributing factors likely include lowered demand for TVs, computers, handsets and a variety of other electronics.

"Samsung will likely bleed more, if not suffer wider losses, as the global economy is expected to slump further well into the first half of this year," said Lee Jeong, an analyst at Hana Daetoo Securities, according to Reuters. "Although there are signs that the prices of chips and LCD panels have stabilized recently, it's hard to predict when they will pick up, given the bleak outlook for the global demand."

AMD posted a $1.4 billion loss, while its competitor Intel last week reported a similar loss of $1.1 billion. Sony, Microsoft and Nokia also fell below analysts expectations for the quarter. The effects permeate the entire business structures, with Microsoft announcing 5,000 job cuts, Intel planning on displacing 5,000 to 6,000 employees, and AMD reducing its workforce by 1,100.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Tablo DVR

With over-the-top content options growing past Hulu and Netflix, consumers may be finding it harder to justify paying a monthly fee fo ...

Sound Blaster Roar Bluetooth speaker

There could very well be a new king of the hill for Bluetooth speakers, with Sound Blaster's recent entry into the marketplace. Bringi ...

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Sponsor

toggle

Most Commented

 
toggle

Popular News