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Samsung Reports Higher Q4 Sales, Net Profits

1/24/2014 04:32:00 AM Eastern

Seoul, South Korea — Samsung Electronics reported higher sales and net profits in the fourth quarter, ended Dec. 31, 2013.

Net sales were 59.28 trillion Korean won (KRW), up from the prior year’s fourth-quarter sales of 56.06 trillion KRW. Net profits were 7.30 trillion KRW in the quarter compared with the prior year’s 7.04 trillion KRW. Operating profits were lower in the quarter, to 8.31 trillion KRW, down from 8.84 trillion KRW in last year’s fourth quarter.

Consumer electronics sales were 14.27 trillion KRW in the fourth quarter, slightly lower the prior year’s quarterly sales of 14.56 trillion KRW. Operating profit in the quarter was 0.66 trillion KRW, slightly lower than the prior year’s 0.70 trillion KRW.

Samsung reported it outperformed market growth by reinforcing season promotions and improved earnings. Year-on-year shipments were up 7 percent, and Samsung said it led in premium product sales. In 60-inch and larger TVs, quarter-on-quarter sales were up 80 percent and smart-TV sales were up 63 percent. Margins improved driven by increased premium product sales.

For IT and mobile communications, sales were 33.89 trillion KRW, up from the prior year’s 30.71 trillion KRW. For mobile communications, sales were 32.17 trillion KRW in the quarter, up from the prior year’s quarterly sales of 29.60 trillion KRW. Operating profits in IT and mobile communications were flat compared with the prior year at 5.47 trillion KRW.

Samsung reported in smartphone sales demand increased quarter on quarter in both developed and emerging markets led by a “year-end/holiday rally.” In tablets, Samsung said, “demand increased substantially with the expansion of global promotions.” There was “strong sales growth” that continued in North America and Europe, Samsung said.

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