Samsung Electronics Co returned to profit in the fourth quarter on strong sales of flat screen televisions and mobile phones, as well as higher prices for computer memory chips, following a rare loss the year before.
The company, a major global producer of consumer electronics products and components that make them work, earned 3.05 trillion won (US$2.64 billion) in the three months ended Dec. 31 on a parent basis, it said in a statement.
Samsung had a net loss of 22 billion won in the same period the year before. That red ink — Samsung’s first since it began reporting results on a quarterly basis in the third quarter of 2000 — sent shockwaves through the company and came as the global economic slump hit demand.
PHOTO: AFP
The company said that its “strong performance” during the fourth quarter last year was bolstered by improving prices for memory chips and a seasonal increase in sales of consumer electronics.
Samsung said it sold nearly 11 million flat screen TVs in the quarter and became the first manufacturer to exceed the 10 million mark.
The company sold 69 million mobile phone handsets in the quarter, up 16 percent from the same period the year before.
Total sales last year reached 227 million.
Looking ahead, the company said it expected “positive growth across its businesses in 2010,” citing stronger demand for flat screen TVs, mobile phones and laptop computers resulting from the ongoing economic recovery.
In a separate regulatory filing, Samsung said that it earned 9.65 trillion won last year. The company reported a net profit of 5.53 trillion won in 2008.
Samsung also said sales last year rose 23 percent to 89.77 trillion won from 72.95 trillion won the year before.
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