Printed from http://www.electronista.com

Samsung net income down 72%, cellphone revenues up

updated 11:35 pm EDT, Thu April 23, 2009

Samsung income down

Samsung Electronics on Thursday reported its first-quarter financial information, with net income totaling $459 million, which is 72-percent below last year's quarter, according to the Wall Street Journal. The lackluster performance was blamed on operating losses that exceeded a slight improvement in the consumer divisions. Despite the year-over-year decline, the company appears to have recovered from its first-ever operating loss reported last quarter.

The chip business, one of the most important segments for Samsung, showed a 15-percent drop in revenue to $2.8 billion. Executives expect difficulties in the memory-chip business to continue through the second quarter.

The cellphone division marked the greatest gain for the company, with a 36 percent jump in revenue and an operating profit reaching $697 million. Samsung was only able to achieve $118 million in cellphone profits for the last quarter.

LG, another competitor based in Korea, recently reported a loss of $148 million for the quarter, while its cellphone shipments dropped by seven percent. Nokia's sales dropped 19 percent year-over-year, while Sony Ericsson reported a 35 percent slide.

Samsung's flat-panel displays brought an operating loss, following similar performance last year. The consumer electronics division recovered, however, with a profit of $111 million.

Despite the overall turnaround from last quarter, Samsung executives remain uncertain about the global economy. They said it would be difficult to consider the recent quarter as an absolute turning point for the company's performance.



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

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Sponsor

toggle

Most Commented

 
toggle

Popular News