Financial News Roundup


Samsung CE Segment Sales Slide 6%
Seoul, South Korea — Despite increased revenue from sales of premium televisions and strong movement of such IT products as PCs and printers, Samsung Electronics posted a 6 percent first-quarter drop in overall sales for its digital media business, moving down to $1.6 billion from a year-ago $1.7 billion.

GE Majap Biz Reports 8% Sales Rise
Fairfield, Conn. — Sales in the major appliance business segment at GE increased 8 percent in the first quarter, rising to $3.5 billion from a year-earlier $3.3 billion.

Sony Ericsson Q1 Sales Jump 55%
Stockholm, Sweden — Sales in the first quarter soared 55 percent at mobile phone maker Sony Ericsson as growth in the global handset market continued to outpace earlier expectations, said the company.

Circuit City U.S. Store Sales Rise 12.7%

Richmond, Va. — An effective holiday selling-season plan that resulted in record Circuit City Stores sales last December carried over into January and February, said the retailer, with the sustained strong pace leading to a 12.7 percent domestic stores sales increase in the company’s fiscal fourth quarter.

LG.Philips Q1 Sales Jump 20%

Seoul, South Korea — Increasing movement of large-size LCD panels boosted overall first-quarter sales at flat-panel maker LG.Philips LCD by 20 percent, climbing to $2.5 billion, up from a year-ago $2.1 billion.

Audiovox Mobile Electronics Sales Off 5%

Hauppauge, N.Y. — Adversely impacted by a sales decline in private-label products and lower priced satellite radio units, revenue for the mobile electronics segment at Audiovox — which represented 68.7 percent of company net sales — declined just over 5 percent to $70.8 million for the three months ended Feb. 28, down from $74.7 million in the year-ago period.


Related Articles