Samsung Electronics reported 1Q 2005 results
The time has come for corporate financial reports on the 1Q 2005. Analysts will use these figures to build their graphs on profitability and company’s performance, and also arrange the leaders in various TOP-5 and TOP-10 ratings.
Here is a report by Samsung Electronics. Under it the company recorded sales of 13.8 trillion Korean Won for the 1Q 2005, a 0.6% decrease from the previous quarter. The operating income made up 2.15 trillion Korean Won, a 40% rise, and the net income dropped by 18% to 1.45 trillion Korean Won. The sharp rise in the operating profit is explained by a number of reasons including the strengthening Korean Won, strong sales of NAND-flash memory, mobile phones and favorable efforts to cut internal expenses. The negative dynamics in the net income were impacted by the increase in reserves at Samsung Card.
Now the most interesting thing is that the Samsung Telecommunication Network Business recorded sales of 4.84 trillion Korean Won, a 12% rise against the previous quarter, the operating income grew to 840.5 billion Korean Won, and the mobile phone shipments equaled to 24.5 units. This favorable performance happened due to high sales of GSM handsets, in particular, the D500 – 3.1 million units sold over 4 previous months.
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