Samsung's Q3 CE Sales Drop 4%
By Jeff Malester -- TWICE, 11/5/2001
Seoul, South Korea — Third-quarter sales in the digital media division at Samsung Electronics — which includes consumer electronics and is the company's largest segment — dropped 4 percent to $1.77 billion, compared with results of the previous quarter. Operating income for the division was $15.3 million in the third quarter.
All of Samsung's major divisions, with the exception of semiconductors, remained profitable during the third quarter. The company's information and communications division, which includes mobile phones, reported $276.3 million in operating income, 16 percent higher than the previous quarter. Sales in this division during the third quarter reached $1.69 billion, down 5 percent compared with second-quarter results.
Samsung said the information and communications division has responded aggressively to the changeover in the domestic market to 2.5G mobile phones, and has strong marketability overseas as well.
Samsung also said it is using its brand name to bolster its digital TVs and DVD players, laying the groundwork for growth amid the economic slowdown.
Overall in the third quarter, Samsung Electronics reported $5.55 billion in sales, down from $6.75 billion in the year-ago period. The company recorded $14 million in operating income. Net income was off 75 percent from the $1.3 billion registered in the same quarter a year ago, down to $322.3 million in the current quarter.
Through nine months, sales totaled $18.33 billion and operating income $1.7 billion. Sales are down 5 percent from the $19.32 billion in the year-ago nine months, while operating income is off 63 percent, compared with the $4.58 billion in 2000.
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