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Samsung Reports 51% Jump in Q2 Profit
Samsung says LCD sales grew 9% to lead the growth. Sales grew 24 percent overall.
Samsung LCD sales grew 9 percent to spark Q2 profit.
When is a jump in profit of 51 percent not good enough? I guess if you are Samsung Electronics.
The company reported a "lower-than-expected 51% jump in second-quarter profit," according to Marketwatch.
The South Korean company's LCD sales grew 9 percent in the second quarter to 4.7 trillion won (about $4.6 billion). Sales grew 24 percent overall.
According to Marketwatch, Samsung says it could surpass its flat-panel television sales target of 21 million units for the year.
The company's net income was 2.14 trillion ($2.12 billion), up from from 1.42 trillion won in the second quarter last year.
Analysts had expected the company to post a net income of 2.3 trillion won, according to the Marketwatch report.
That "bad news" sent Samsung stock tumbling about 5 percent. The company cited the competition in mobile phones as the primary culprit.
The company reported a "lower-than-expected 51% jump in second-quarter profit," according to Marketwatch.
The South Korean company's LCD sales grew 9 percent in the second quarter to 4.7 trillion won (about $4.6 billion). Sales grew 24 percent overall.
According to Marketwatch, Samsung says it could surpass its flat-panel television sales target of 21 million units for the year.
The company's net income was 2.14 trillion ($2.12 billion), up from from 1.42 trillion won in the second quarter last year.
Analysts had expected the company to post a net income of 2.3 trillion won, according to the Marketwatch report.
That "bad news" sent Samsung stock tumbling about 5 percent. The company cited the competition in mobile phones as the primary culprit.
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About the Author
Jason Knott, Editor, CE Pro
Jason has covered low-voltage electronics as an editor since 1990. He joined EH Publishing in 2000, and before that served as publisher and editor of Security Sales, a leading magazine for the security industry. He served as chairman of the Security Industry Association’s Education Committee from 2000-2004 and sat on the board of that association from 1998-2002. He is also a former board member of the Alarm Industry Research and Educational Foundation. He is currently a member of the CEDIA Education Action Team for Electronic Systems Business. Jason graduated from the University of Southern California.
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