Samsung Electronics Co reported a 12.6% increase in profit from the same quarter the previous year to $3.06 billion dollars. Samsung attributes most of their growth to increased cell phone shipments during the quarter. Overall though it was the worst quarter of the year for the company.
Samsung’s semiconductor business along with it’s LCD saw much smaller profits in the October to December quarter.
Samsung executives say they that the first half of the year will still be tough for the semiconductor and LCD unit. They went on to say that they expect to continue to push sales growth in the cell phone division and they expect that division to be the profit leader for most of the year.
Samsung Telecommunications (Samsung Mobile) reported an operating profit margin of 11.9% which was up 10.3% from the same quarter last year. Samsung shipped 80.7 million cell phones in the 4th quarter of 2010 that’s up from 68.8 million from the same quarter in 2009. A lot of that growth comes from the Samsung Galaxy S line of smartphones and the Samsung Galaxy Tab.
Samsung Mobile announced three 4G Android devices in the United States this month alone, the Samsung Infuse, The Samsung Galaxy S 4G/LTE on Verizon and the Samsung Galaxy S 4G on Tmobile. Samsung also announced 4 new Android devices overseas earlier this month and they are expecting a slew of announcements at MWC in Barcelona next month.
Source: Wall Street Journal