Business Notes
Staff -- TWICE, 8/6/2001
Samsung Q2 Mobile Phone Sales Increase 15%
SEOUL, SOUTH KOREA —Sales of wireless phones at Samsung Electronics climbed to $1.21 billion in the second quarter, a 15 percent increase over the same three months last year. Operating profit for this business was $226.6 million. Samsung said its overall telecommunications business, which includes handsets, enjoyed a revenue increase of 22 percent in the second quarter, compared with the same period last year, reaching $1.74 billion. Sales of digital media products, including computers and other hardware, dropped 13 percent to $1.66 billion in the second three months, compared with the year-ago quarter. Operating profit for the second quarter was $22.7 million. Overall sales at Samsung during the second quarter fell 7 percent to $6 billion, while operating profit in the second quarter was $453 million, nearly a threefold dip from the year-ago period.
JVC Teams With PGA Golf Pro In Endorsement Deal
WAYNE, N.J. — JVC Company of America has signed an endorsement and promotional agreement with golf professional Lee Porter. Porter, who is a member of the Professional Golf Association Tour, will have a prominent JVC logo featured on his golf bag in upcoming Tour events. He also will assist with various marketing and promotional aspects of JVC business and serve as a company spokesman. In other news from JVC, the company, following a delay, is shipping to retailers its D'Ahlia 61-inch D-ILA hologram HDTV rear-projection television. Called model AV-61S902, JVC's exclusive product offers 1.32 million pixels or 3.96 addressable RGB dots. It is capable of producing 1280 x 1028 pixels, the highest resolution available from a consumer device, as well as a high-contrast, big-screen image with a wide angle of visibility, JVC said.
Rex Stores Declares 3-for-2 Stock Split
DAYTON, OHIO — Consumer electronics and major appliances specialty retailer Rex Stores has declared a 3-for-2 split of its common stock, payable Aug. 10 to shareholders of record as of July 31. Shareholders will receive one additional share of common stock for every two shares held on the record date. As a result of the stock split, Rex Stores outstanding shares of common stock will increase from 5.2 million to 7.7 million.
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