Samsung meets quarterly financial guidance, profits continue to fall

Samsung logoSamsung Electronics today announced revenues of 53.68 trillion Korean won ($51.8 billion) on a consolidated basis for the first quarter ended March 31. Samsung's revenue slipped nine percent quarter-on-quarter, but saw gains compared with the same period last year. For the quarter, the company posted consolidated operating profits of 8.49 trillion won ($8.17 billion), representing a two percent increase on-quarter. Consolidated net profit for the quarter increased by 270 billion won to 7.57 trillion won ($7.29 billion).

Samsung's Semiconductor businesses posted 1.95 trillion won ($1.88 billion) in operating profits for the quarter on 9.39 trillion won ($9.04 billion) in consolidated revenue. The memory chip business alone recorded the bulk of sales, with 6.29 trillion won ($6.05 billion) in revenue, a three percent decrease in gains quarter-on-quarter.

The Display Panel segment posted revenues of 6.10 trillion won ($5.87 billion) in the first quarter with an operating loss of 80 billion ($77 million) won amid traditionally weak seasonal demand. During the first quarter of 2014, the overall LCD market experienced a decline in demand for TV and tablet panels as product makers reduced orders.

The IT & Mobile Communications division consisting of Mobile Communications and Networks posted operating profits of 6.43 trillion won ($6.19 billion) on 32.44 trillion won ($31.23 billion) in revenue for the March quarter. Out of the total earnings, the mobile business was responsible for 31.36 trillion won ($30.19 billion). Although market demand for both smartphones and tablets decreased during the first quarter, operating profits for the IM division jumped 18 percent compared with the previous quarter thanks to steady smartphone shipments.

The Consumer Electronics Division encompassing the Visual Display, Digital Appliances, Printing Solutions and Health and Medical Equipment businesses posted an operating profit of 190 billion won for the quarter on revenues of 11.32 trillion won ($10.9 billion). The Visual Display business accounted for 7.39 trillion won ($7.11 billion) of earnings. Seasonally low demand for consumer electronics goods during the first quarter corresponded with the division's overall sales down by 21 percent.

Samsung is expected to see profits rally in the second quarter and beyond, on the back of improved sales of display panels and home appliances. Orders for display panels that are used for premium smartphones and TVs are expected to increase, as new mobile devices are rolled out into the market. The outlook for household appliances will also pick up on seasonal demand for air conditioners, as well as orders for high-end TVs.

Source: Electronista

Tags: report, Samsung

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
Consumer group recommends iPhone 8 over anniversary model
 
LTE connections wherever you go and instant waking should come to regular PCs, too
 
That fiction is slowly becoming a reality
 
The Snapdragon 845 octa-core SoC includes the Snapdragon X20 LTE modem
 
Human moderators can help make YouTube a safer place for everyone
 
Google says Progressive Web Apps are the future of app-like webpages
 
All 2018 models to sport the 'notch'
 
The biggest exchange in South Korea, where the BTC/KRW pair is at $14,700 now
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
     12
3456789
10111213141516
17181920212223
24252627282930
31      




Poll

Do you use microSD card with your phone?
or leave your own version in comments (4)