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Sales in the digital media segment at Samsung Electronics dropped 16 percent in the company's third quarter, despite strong movement of LCD and PDP televisions and LCD monitors.
Three month sales in the digital media segment, mainly consumer electronics, came in at $1.58 billion, down from $1.87 billion in the same quarter a year ago. The company reported continued strong demand for large-sized flat-panel TVs.
Samsung said its digital media segment narrowed its three month operating loss for the period, ending Sept. 30, recording a negative $19.2 million, down from a loss of $31.7 million in the third quarter last year.
Even though Samsung sold a record 26.8 million mobile phones in the third quarter, up from 24.4 million in the previous quarter, handset sales in the period dropped 4 percent, down to $4.2 billion from a year-ago $4.4 billion. The company reported increased shipments in the United States.
Samsung's telecommunications segment, mainly mobile phones, saw a 5 percent slide in third quarter sales, dipping to $4.4 billion, from $4.6 billion in the same quarter the previous year. Segment operating profit decreased less than 1 percent, sliding to $528.5 million, from $586.2 million in the same quarter last year.
LCD segment sales in the third quarter increased 41 percent, reaching $2.6 billion, from a year-on-year $1.8 billion as the company posted strong panel shipment growth, resulting from seasonality and attractive panel prices. Segment operating profit rose to $288.3 million, up from $221 million in the same quarter the prior year.
Consolidated sales at Samsung edged upward 1 percent in the third quarter, hitting $14 billion, compared with $13.8 billion in the same three months last year.
However, the company reported a 23 percent decline in consolidated operating profit, to $2 billion, from $2.6 billion year-on-year, and consolidated net profit, to $1.8 billion, down 30 percent from the $2.6 billion recorded in the same quarter a year earlier, due in part to decreasing prices of flat-screens and chips.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.