Samsung SDI posts loss on falling PDP prices
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Samsung SDI Co. (006400.KS), the world&#39;s  third-largest plasma display panel (PDP) maker, posted a  worse-than-expected quarterly net loss on Friday, hurt by  tumbling prices of its television screens.
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SEOUL (Dow Jones)--A precipitous fall in prices for flash-memory chips and anticipated demand for next-generation DDR2 dynamic random access memory chips has spurred Samsung Electronics Co.
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Prices are expected to fall for 17 and 19 inch Liquid Crystal Display (LCD) TV panels based on Thin Film Technology (TFT), according to a report by Electronic News.
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(InfoWorld) - Samsung Electronics saw a sharp fall in operating profits during the three months from April to June due to theÂ weak marketÂ for computer memory chips. Prices of the chips, which are used for the main memory in personal computers, fell because supply exceeded demand. That hit Samsung because it's one of the world's largest makers of DRAM (dynamic RAM) chips. The company said operating profit was 910 billion won ($985 million) as of the last day of the period being reported), which is down from 1.4 trillion won ($1.5 billion) in the second quarter of 2006. Net profit, which is a wider measure of profitability and includes subsidiaries and non-core operations, was down slightly at 1.42 trillion won from 1.5 trillion won a year earlier. Net sales were up 4 percent to 14.6 trillion won. "Despite the dire business environment, such as the precipitous fall of DRAM (dynamic RAM) prices and seasonality, we have posted a decent result in Q2," said Chu Woosik, head of investor relations at Samsung, in a conference call with analysts. Profits at Samsung's semiconductor unit dropped by two-thirds as a result of the weak DRAM market. The good news, said Chu, is that the DRAM market is already starting to show signs of a turn-around, thanks to interest in Windows Vista PCs, which require more memory. During the remainder of the year the market for DRAM chips is expected to be strong, he said. Strong demand for Apple's iPhone and competing handsets are alsoÂ expected to keep up pricesÂ and profits for NAND flash memory, which is Samsung's other major memory chip product, strong. Chu said Samsung is in talks with several consumer electronics companies about supplying chips for as-yet-unannounced portable media players with video. Samsung's cellphone handset business was one of the brightest spots in the results. The company shipped a record 37.4 million phones in the quarter thanks to the popularity of its thin "Ultra" edition handsets. The second quarter was the fourth consecutive quarter in which Samsung reported record sales. As a result Samsung said it now expects to ship more than 150 million phones this year, up from its previous target of 133 million. The LCD (liquid crystal display) business enjoyed brisk business and Samsung shipped a record 2 million displays in the 40-inch and above class. Sales rose by 17 percent and operating profits surged 290 percent. Looking ahead, Chu said Samsung expects the remainder of the year to be strong for the company. "We are very optimistic about the second half," he said. "We are expecting all of our major business units to experience very high levels of demand and recovery starting from Q3. As a result of such an improvement coupled with our vigorous attempts to reduce cost, we are hoping to see significant improvements in the bottom line in Q3. We expect this nice recovery to last throughout the rest of the year." Â
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Seoul, Korea-based Samsung Electronics Co. said today it has set aside $100 million to cover costs associated with the price-fixing investigation by the US Department of Justice (DoJ) for alleged price-fixing
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Germany's Deutsche Post AG (DPWGn.DE: Quote , Profile , Research ) said losses at its U.S. express and logistics business will be 200 million euros ($246.1 million) greater than expected this year, sending its ...
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MCI Inc. (MCIP.O: Quote, Profile, Research) on Thursday reported a $3.4 billion third-quarter loss as it wrote down the value of its assets due to a withering price war for long-distance telephone service.
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Samsung Electronics Co. Ltd.'s third-quarter operating profit has fallen around 10 percent short of market forecasts due to weak sales of flat screens, a source familiar with the company's business said on Friday.
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Concern over falling profit margins at Samsung Electronics Co. Ltd. grew on Thursday as the company said it was spending more on handset marketing and a top broker issued a &quot;sell&quot; rating on its stock for the first time in years.
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UBS cut its earnings forecasts and share target prices for South Korean chip makers Samsung Electronics and Hynix Semiconductor Inc., citing bigger-than-expected price declines for DRAM memory chips.
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US telecoms company MCI has seen its third quarter loss balloon to $3.4bn (Â£1.8bn) after a price war forced it to reduce the value of its assets.
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Sharp falls in technology stocks led  Asian share markets lower Friday on bleak earnings prospects at  industry leader Samsung Electronics Co. Ltd. and a retreat on  Wall Street.
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Plus: Samsung SDI swings to loss...Outstanding earnings for Apple...Xerox profits from color printers...Alltel profit, revenue rise.
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Brian Matus, vice president of market research IC Insights, said $100 million is a mere drop in the bucket for Samsung, but the full extent of the company&#39;s guilt or the fines it might be assessed remain to be seen.
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The chipmaker Advanced Micro Devices posted its third consecutive quarterly loss after cutting prices to compete with Intel.
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MCI Inc.'s MCIP.O quarterly loss  ballooned to $3.4 billion as the No. 2 U.S. long-distance  company wrote down the value of its assets due to a price war  in long-distance services, MCI said on Thursday.
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Korean LCD maker suffers massive decline in earnings.