Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey D who wrote (31643)	7/27/1999 10:44:00 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 70976

Samsung Electronics, LG Electronics Top 1 Trln. Won in First Half Profit July 27, 1999 (SEOUL) -- Samsung Electronics Co., Ltd. and LG Electronics Inc. each reported total profits in excess of 1 trillion won in the first half of this year. Samsung Electronics said the bulk of its profits came from the sale of mobile phones and TFT-LCDs, as well as strong semiconductor exports. Samsung Electronics declined to confirm a local report claiming that the world's largest memory chip producer exceeded 1 trillion won in operating profits during the first quarter alone on the strength of the company's booming cell phone business. (1,208.1 won = US$1) LG Electronics recorded some 300 billion won in operating profits during the first six months on the back of recovering demand for home appliances, CD-ROM drives and computer monitors. In addition, LG Electronics has already received two thirds of the total payment for selling its equity in LG Semicon Co., Ltd. to Hyundai Electronics Industries Co., Ltd., boosting its special profit figure to about 660 billion won. LG Electronics will also receive US$1.6 billion from Philips for the equity sale of LG-LCD in early August, leading to the company's biggest-ever yearly profit figure. Related story: Samsung Electronics Expects First Half Net Profits Near 1.2 Trillion Won (Maeil Business Newspaper, Korea)