Samsung sees higher mobile profit
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Korean mobile maker Samsung says it expects profits to grow in 2005, but brokers warn that harsh competition could mean narrower margins.
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Shares in LG Electronics Inc. (066570.KS)  rose as much as 4.7 percent on Tuesday amid market speculation  its operating profit margins in mobile phones are stronger than  expected so far in the current quarter.
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Sony Ericsson, the world's fourth biggest mobile phone maker, posted higher second-quarter profit on Wednesday as sales rose on increased demand for its phones.
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Samsung Electronics , the world's top memory chip maker, reported a smaller-than-expected 5 percent drop in quarterly profit on Friday after a steep fall in computer memory chip prices overshadowed improvements in flat screens.
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Qualcomm Inc. on Friday raised its  quarterly profit forecast due to strong demand for its mobile  phone technology.
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South Korea's LG Electronics said its net profit surged 130 percent to 1.48 billion dollars on record sales last year, although a weak dollar slowed fourth quarter performance.
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U.S. telephone carrier customers of Samsung Electronics saw slowing sales of cell phones towards the end of the holiday shopping period, which was a strong sales period for Samsung, a top executive for the phone maker said on Sunday.
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Hyundai Motor Co (005380.KS), South  Korea's top auto maker, said on Thursday its quarterly  operating profit more than doubled, fuelled by higher sales and  a softer won.
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The South Korean consumer electronics and appliances company swung to a profit on strong sales of appliances and premium mobile phones.
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Wireless technology and chip supplier Qualcomm Inc  on Wednesday posted a higher profit for its fiscal first quarter as revenue rose on strong demand for its mobile phone chips.
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Samsung Electronics, the world's second-largest mobile phone maker, expects its handset sales to rise 16 per cent next year to more than 100m units.
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SAMSUNG Electronicsâs quarterly profit jumped 46 per cent from a year ago on strong memory chip sales, but fell 14 per cent from the previous quarter as prices of flat screens for TV and computers fell.
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Samsung Electronics, the world's top memory chip maker, is set to post a 15 percent drop in quarterly profit on Friday after a steep fall in computer memory chip prices overshadowed improvements in flat screens.
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Falling flat screen prices hit Samsung's quarterly profits.
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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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South Korea's LG Electronics Inc.  swung to its highest quarterly net profit in three years, thanks to its LCD venture and mobile phone sales, but the outlook remains marred by its troubled plasma display business.
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Qualcomm Inc  posted a  higher quarterly profit on Wednesday due to demand for its  mobile phone chips, and its shares rose 6.5 percent.