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Technology Stocks : Samsung and Wireless -- Ignore unavailable to you. Want to Upgrade?

To: Eric L who wrote (134)	4/17/2003 9:37:55 PM
From: Eric L	Read Replies (1) \| Respond to of 374

Samsung Q1 03 Prelim from Reuters The handset maker said it sold 13.2 million mobile phones in the first quarter compared with 11.6 million units sold in the fourth quarter of 2002. Margin down and ASP down per CC. >> Samsung Elec Q1 Down on Slump In Memory Prices April 17, 2003 Seoul Reuters South Korean technology giant Samsung Electronics Co Ltd 05930.KS missed market forecasts on Friday when it showed first-quarter net profit fell about 40 percent because prices for its mainstay memory chips slumped. Weak PC demand in the wake of the global economic slowdown forced Samsung, the world's top memory chip maker, to cut contract chip prices almost every two weeks during the quarter to push products out the door. Samsung, which is also the third-largest handset maker in the world, earned 1.13 trillion won ($937.7 million) net profit for the three months ended in March, falling short of analysts' consensus forecasts of 1.37 trillion. This compared with a 1.91 trillion profit a year ago. Turnover was 9.6 trillion won versus 9.93 trillion. Shares in Samsung, South Korea's largest issue with a market value of about $39 billion, lost some of its early gains to stand 1.99 percent higher at 308,000 won at 0057 GMT. Earlier, it rose as much as 3.6 pct to 313,000 won. Samsung's mobile phone business held up well, but its average selling price has slipped as the world's third-largest handset maker shifted focus to lower-end cell phones to further market share gains. Samsung's diversified product portfolio has helped shield it from the global downturn. The flagship of Samsung Group [SAGR.UL], South Korea's largest conglomerate, also makes televisions, refrigerators and washing machines. The stock has moved broadly in line with the benchmark index .KS11 so far this year. Despite a prolonged slump in chip prices, Samsung remains the only profitable major memory chip maker, while rivals such as Micron Technology Inc of the United States and South Korea's Hynix Semiconductor Inc have splashed red ink. The average selling price for 256 megabit dynamic random access memory chips fell to $5.60 in the first quarter, down sharply from $9.00 a year before, analysts said. The handset maker also said it sold 13.2 million mobile phones in the first quarter compared with 11.6 million units sold in the fourth quarter of 2002. Samsung doubled its global handset share to 10 percent in two years, overtaking both Germany's Siemens AG SIEGn.DE and Sony Ericsson, and is now challenging mobile phone giants like Motorolaand Nokia. << - Eric -