Digital, Mobile Units Drive Samsung Q4 Sales
By Jeff Malester -- TWICE, 2/25/2002
SEOUL, KOREA — Enjoying the dividends from climbing sales of digital television, DVD players and mobile phones, Samsung Electronics posted sales in the fourth quarter of $6.4 billion.
While not comparing its financial performance from the previous year's fourth quarter, Samsung had an overall increase of 17.3 percent in the final quarter of 2001, up from $5.5 billion in the third quarter.
Sales in the fourth quarter of 2001 in the digital media division, which includes consumer electronics, reached $1.9 billion, an 11 percent gain vs. $1.7 billion in the third quarter. Fourth-quarter sales in the telecommunications division, mainly wireless handsets, were $2 billion, 21 percent higher from $1.7 billion in the third quarter.
Compared with the third quarter, overall net income for the fourth quarter recorded a slight decrease, dropping 5 percent to $304.8 million, down from $321.7 million.
For the 12 months, Samsung's overall sales reached $24.5 billion, down from the $26 billion reported in the previous year. Net income was $2.2 billion for the 12 months, down significantly from the $4.8 billion recorded in 2000.
Sales in 2001 hit $7.1 billion for the Digital Media division and $6.8 billion for the Telecommunications division. Digital Media accounted for 29.1 percent of sales in 2001, and Telecommunications 27.9 percent. Net income for the Telecommunications division, reached $757 million in 2001, the highest level of net income ever reached for a single product category, said Samsung.
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