twice connect
careers

Samsung Mobile Phone Segment '02 Sales Up 37%

1/23/2003 09:18:00 AM Eastern

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. Samsung forecasts revenue of $35.2 billion in the full-year 2003.

In the fourth quarter, overall Samsung sales hit $9.2 billion, up from $7.3 billion in the year-ago period.

Net income for the three months reached $1.3 billion, compared with $345.4 million in the same quarter in 2001.

However, profit was below the $1.5 billion registered in the third quarter, while sales were up from $8.5 billion in the third three months. Samsung said profit in the three months was affected by a $321.4 million bonus payment.

The company also noted a 33 percent increase in Selling, General and Administrative expenses from the third quarter, to $1.7 billion.

Samsung plans $5.1 billion in capital spending in 2003, up 43 percent from the $3.6 billion spent in 2002. In the telecommunications division, the company plans to spend $257.1 million this year.

Samsung shipped about 11.6 million handsets in the fourth quarter, and plans to ship about 13 million in the first quarter of 2003.

PHOTOS
Nationwide PrimeTime 2014

Scenes from Nationwide PrimeTime buy fair held in

ProSource Meeting Filled With Optimism

San Antonio — Optimism reigned at ProSource’s

Ingram Draws 500 To Spring Vendor Expo

Scottsdale, Ariz. — Ingram Micro Consumer

CEA Holds ’14 Digital Patriots Dinner

Washington — CEA held its annual Digital Patriots’

8 Technology Accessories For a Greener Earth

An Earth Day review of Earth-friendly products, by

BrandSource Shows Diverse Product Selection

BrandSource’s Summit show at the Marriott World

Scenes From Toy Fair

By Lisa Johnston