Samsung Mobile Segment Records 37% Sales Gain
By Jeff Malester -- TWICE, 2/10/2003
Seoul, South Korea— The telecommunication networks division at Samsung Electronics, which makes mobile phones as well as network hardware, led the company sales charge in 2002, notching a 37 percent dollar gain for the 12 months, to $10.6 billion. In the same period, the telecommunication segment earned $2.6 billion.
In contrast, Samsung's digital media division, which makes consumer electronics and computers, rang up $8.5 billion in sales during 2002. Earnings for this division over 12 months, at $330.1 million, were far less than mobile phones.
In the fourth quarter, sales for telecommunications hit $2.9 billion, with operating income of $599.9 million. In the CE segment, sales reached $2.1 billion, but the division posted an operating loss of $25.7 million.
Overall annual sales at Samsung Electronics climbed 25 percent, to $34.7 billion, compared with $27.7 billion in 2001. Net income for the 12 months was reported at $6 billion, up from $5.1 billion the previous year.
