re: Samsung Q3
Telecomm Division
* 3.26 trillion won ($2,631,152) for Q3 up up 18% from Q2
Handsets
* 2.92 trillion ($2,356,738) won for Q3 up 24% from Q2 2.36 trillion won.
* Samsung shipped 11.7 million handsets in Q3, up 22% from Q2.
* Targeting shipments of >41 million units by the end of the year.
Infrastructure
* $274,414 for Q3
>> Samsung's Profit Surges On Strong Handset Sales
Dow Jones
Seoul, South Korea
October 18, 2002
South Korea's Samsung Electronics Co. said Friday its third-quarter net profit surged amid strong handset sales.
Samsung said net profit surged to 1.7 trillion won ($1.36 billion) from 425 billion won a year ealier.
Revenue at the chip maker rose 37% to 9.92 trillion won on year, while operating profit rose to 1.77 trillion won from 18 billion won a year earlier.
The net profit figure was in line with the 1.7 trillion won analysts had forecast in a survey by Dow Jones Newswires earlier this week. Sales, however, fell short of the range of 10.2 trillion won to 10.7 trillion won, analysts expected.
Samsung's results were down on quarter. In the second quarter, the company posted a net profit of 1.92 trillion won, an operating profit of 1.87 trillion won and revenue of 9.94 trillion won.
Samsung posted revenue of 1.96 trillion won from its memory division, up 4.8% on quarter as it boosted production of specialty chips such as double data rate, or DDR, and saw continued demand from flash-memory chips.
Sales from Samsung's semiconductor division totaled 3.1 trillion won, down 4.4% from 3.24 trillion won in the second quarter.
Samsung said sales from its telecommunications division, which makes mobile handsets and telecommunications equipment, rose 18% on quarter to 3.26 trillion won. Mobile-handset sales were 2.92 trillion won, up 24% from 2.36 trillion won in the second quarter.
Samsung shipped about 11.7 million handsets in the third quarter, up 22% from the second quarter. The company is targeting shipments of more than 41 million units by the end of the year.
Sales from the company's digital-media division were 2.37 trillion won, down from 2.44 trillion won, while sales of home appliances fell 27% on quarter to 780 billion won as demand for refrigerators and air conditioners fell during a seasonally weak quarter for home appliances, it said.
During a conference call with analysts, Samsung said it expects output of dynamic random-access memory chips, or DRAMs, to rise 7% from the third quarter. The company said the current inventory of synchronous DRAM is good for about two weeks. DRAM is currently the mainstream memory chip for the personal-computer industry.
The chip maker expects fourth quarter PC growth at 20% from the third quarter.
Samsung said it is also considering entering the low-end handset market. The company hasn't fixed the pricing for the handsets but is looking specifically at the market for teenagers with handsets ranging from $100 to $150, officials said. The average selling price for Samsung Electronics handsets overseas was $188 during the third quarter.
Samsung also said it is maintaining its 2002 capital expenditure budget of 4.88 trillion won.
Samsung posted a third-quarter operating profit of 880 billion won from its semiconductor division, down 4.5% on quarter.
The company posted an operating profit of 880 billion won from its telecommunication division, up from 610 billion won in the second quarter.
Third-quarter sales from exports rose 3% on quarter to 7.07 trillion won, while domestic sales fell 7% to 2.85 trillion won.
Yun-Hee Kim and Laura Pohl of Dow Jones Newswires contributed to this report. <<
- Eric - |
