Samsung upbeat on electronics market

07 July 2009

SEOUL: Samsung Electronics, the Korean electronics manufacturer, has issued an optimistic profits forecast for the second quarter of this year, in a sign that conditions in the sector may be starting to improve.

The company – which makes products ranging from memory chips to liquid crystal and plasma display screens – has forecast that consolidated operating profits will fall between 2,200 billion won ($1.74bn; €1.24bn; £1.07bn) and 2,600 billion won in Q2.

Revenues are also set to reach at least 31,000 billion won, and could rise to 33,000 billion won, with sales of its smartphones and premium LCD TVs among the main drivers of growth.

By contrast, Samsung reported an operating loss of $680m in the first quarter of this year, when net profits declined by 72% on an annual basis.

Data sourced from Financial Times; additional content by WARC staff