Samsung Q1 Profit Up 37%

By Doug Olenick -- TWICE, 4/25/2008

Seoul, South Korea — Samsung Electronics surging first-quarter profit was driven by mobile phone sales.

The company reported a 37 percent jump in profit to $2.2 billion, for the quarter ended March 31, on sales of $17.2 billion.

Samsung LCD business generated 53 percent year-over-year growth primarily due to strong sales of larger, 46-inch and above, screen sizes, the company said.

The Indian and Chinese mobile phone markets accounted for much of Samsung cellphone sales, the company said. Overall, handset sales were up 33 percent compared with the same period last year.

On the down side for the quarter were semiconductor and DRAM chips which dropped 2 percent.

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  If it wasn't for the Korean Government Samsung and all of its affiliated compaines would be out of business period. The Gov't covers all R&D, they pay no domestic taxes and they dictate what the trade policy is... this is also the case at LG and was not the case at Daewoo, GET IT...

  
  

  
  RAL - 2008-26-4 15:22:00 EDT
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