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Samsung Posts Double-Digit Q1 Increases

4/30/2010 03:32:05 PM Eastern

Seoul, South Korea - Samsung Electronics
reported double-digit sales and profit increases in the first quarter based on
strong demand for flat-panel TVs and mobile phones, as well as memory chips.

Samsung had a net profit of 3.99 trillion won, or $3.6 billion,
in the first quarter, ended March 31, a 12 percent gain year on year.

Sales were 34.64 trillion won, or $31 billion, for the quarter, a
year-on-year gain of 21 percent.

In Samsung's digital media segment, where CE products are, sales
were 12.61 trillion won, up 18 percent from the prior year's first quarter. For
mobile phones, sales were 8.57 trillion won for the quarter, up 8 percent year
on year.

In TVs Samsung reported sales of 8.4 million units in the first
quarter, a 47 percent increase from the prior year's first quarter, and the
company said it expects demand to grow in the double digits again in the second
quarter as well as improved profitability.

Samsung sold 64.3 million mobile phones in the first quarter, up
40 percent from the year before, and predicted growing demand in the second
quarter.

The biggest profits came from its memory chips, which had an
operating profit of 1.96 trillion won in the quarter, a gain of 38 percent year
on year, and a 57 percent increase in sales.

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