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Samsung Electronics reports record profit
Samsung, which is the world’s biggest supplier of memory chips, said its operating profit from its semiconductor business in the first quarter reached 760 billion won, less than half from a year earlier.
Computer memory chip prices are sensitive to global economic conditions. Weak consumer demand for personal computers squeezed memory chip prices and forced Tokyo-based Elpida Memory Inc. to file for bankruptcy in February.
Samsung’s display panel business made a turnaround from a year earlier to 280 billion won profit as increased sales of lucrative 3-D TV panels and high-resolution tablet PC panels propped up the bottom line.
The division that makes TVs and home appliances posted 530 billion won in operating profit. Samsung is the world’s largest maker of flat-panel TVs, a sector that it competes with LG Electronics Inc. of South Korea and Sony Corp. of Japan.
By Brahma Chellaney
Beijing's creeping aggression signals a challenge to U.S. presence in the Asian Pacific
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White House pets gone wild!
Let it snow