Friday, July 29, 2011

Samsung profits drop 18%

Samsung has released its financial results for the second quarter of 2011 and overall they are quite good. Its turnover reached 26 billion euros, an increase of 4% compared to last year, while its profit is down from 2.84 billion euros in the second quarter of 2010 to 2,330,000,000 euros. This decrease is mainly due to a fall in selling prices of components due to a surplus.

His division smartphone continues to excel and take the results of the company up. Indeed, the telecommunications department has seen its profits rise by 420 million euros to 1.1 billion euros, an increase of 165%. Nokia still seems to dominate the mobile phone market, but Samsung has already passed the Finn on the smartphone.

It is also very close to Apple, continuing its terminals S Galaxy won a great success. This market is moreover possible to greatly limit the damage associated with excess components. Its LCD division, however, was the most severely affected as it accuses of a loss of 140 million euros, while last year it enjoyed a profit of 580 million euros.

Samsung makes most of its revenue from the sale of consumer products such as televisions, computers and gadgets. The results published yesterday show that the firm has corrected the negative trend that had leaded 2010. This sector is back on the profit after six months of losses. Samsung refers to a profit of 340 million euros.

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