Samsung Reports CE Sales Slipped 20% During Q1
By Jeff Malester -- TWICE, 5/5/2003
SEOUL, SOUTH KOREA — Claiming a strong overall company performance, despite economic instability in both its overseas and domestic markets, Samsung did not fair as well in its consumer electronics segment as in others during the first quarter.
The digital media division, which includes audio and video products — namely DVD players, digital televisions and computers — hit $1.6 billion, down 20 percent from the $2 billion recorded in the year-ago period.
Operating income for Samsung's digital media division reached $83.1 million, down from $153.1 million in the first three months of 2002.
The company's information telecommunications division, which includes mobile phones, recorded sales of $2.8 billion in the first three months, a jump of about 28 percent from the $2.2 billion racked up in the same quarter a year ago. Samsung said mobile phones accounted for about $2.5 billion of the division's total first quarter sales.
Operating income for the cellphone segment, however, hit $564.8 million in the first quarter, down from $612.1 million in the first three months of last year.
Samsung revealed that its digital media segment accounted for 20 percent of the company's first quarter sales, while telecommunications, the second-largest business area, accounted for 35 percent of overall first three-month revenue.
Despite a sluggish information technology industry overseas and at home, Samsung reported consolidated first quarter sales of $7.9 billion, up about 5 percent from the $7.6 billion rung up year over year. Samsung recorded consolidated operating income of $1.1 billion in the first three months, and net income of $913.6 million. In the first quarter of 2002, the company said it had pre-tax income of $1.8 billion.
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