Samsung Electronics has reported profits in its fourth quarter, largely thanks to strong sales of flat-screen televisions and mobile phones. This is compared to the loss posted during the same period last year.
The South Korean electronics giant reported net profits of 3.1 trillion won (US$2.7 billion) in the final three months of 2009. This is compared to the 20 billion won loss (US$14 million loss) made during the same period in 2008, which had been the company’s first loss since it began reporting on a quarterly basis in 2000.
Samsung sold almost 11 million flat-screen TVs during the fourth quarter, becoming the first manufacturer to exceed the 10-million mark.
It also sold 69 million mobile phones during the period, which represents a 16pc increase on the same quarter a year previous. Across the whole of 2009, 227 million handsets were sold, the company said.
Samsung said its fourth quarter had been a “strong” one, helped by improving prices for memory chips and a seasonal increase in sales of consumer electronics.
The company also said that it expects “positive growth across its businesses in 2010”.
Article courtesy of Businessandleadership.com