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Samsung reports strong Q2 financial results

Samsung's TV business returns to profit
Samsung's TV business returns to profit

In news that will please all those fed up about writing about fallen profits, Samsung has posted strong financial results for Q2 2009.

Among the highlights were the LCD division, which returned to a 150 billion won (£73m) profit after a disappointing Q1, although year on year suffered an 8.1 per cent decline.

However, short supply of the LCD panels in the difficult economic climate had an obvious effect on sales.

LED backlit TVs showed strong growth, and the overall prices for the panels increased over monitor, notebooks and sub 32-inch TV segments.

Samsung expects a strong Q3, which is traditionally the strongest of the year, although believes a harder Q4 will see a drop in prices.

Mobile mania

The mobile division also performed well, with sales up 14 per cent on Q1, and a 27.4 per cent increase in revenue year on year to 10.04 trillion won (£4.91bn).

Among tales of woe from the likes of Nokia and Sony Ericsson, Samsung outperformed the market in Europe and the US, with prices increasing as well thanks to a slew of high end touchscreen phones like the i8910HD.

Overall operating profit for the quarter was 2.52 trillion won (£1.2bn), a five percent increase year-on-year and up 436 percent from the previous quarter.

Via Newswire Korea