Samsung reports record second-quarter profit

Posted: July 26, 2009 in Tech

Samsung Electronics Co. reported a 5.2% rise in profit for the second quarter on 16% growth in sales driven primarily by improved performance in semiconductor and telecom business segments. Handsets shipments in the quarter rose 14%. Further, the South Korean conglomerate said it projects 5% sequential growth in telecom market demand in the third quarter.

Samsung added that its net profit topped 2.25 billion won (1.8 billion U.S. dollars) during the second quarter, marking a 5.2 percent on-year advance from 2.14 trillion won (1.7 billion U.S. dollars).

The rise in earnings came as the company’s sales was boosted 15.9 percent to 21.02 trillion won (16.8 billion U.S. dollars) during the same period.

The company expected its earnings to further improve in the third quarter

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