Samsung’s Q4 2008 financial results announced

Samsung Office

 

With all the reshuffling and combining different businesses into one was a clear indication of what was in the offing. Samsung announced its Q4 2008 results and sadly for them, it is the first time since 2000 that they have posted a net loss. Biggest hit to take in this dwindling market was the chip unit that posted a 14% loss while its display division went from an 8% profit in Q3 to 8% negative in the last quarter. The overall loss for the full quarter was to the tune of 22.2 Billion Won or US$16 Million.

The mobile division was a breather as compared to other divisions because it had a 2% operating profit but still low when it is compared to 7% of Q3 2008.

Our source in a financial firm suggests that the first half of 2009 is going to be bad too with situation gradually improving in the second half. Hang on tight Samsung, I know you will weather this storm and come up again with the products worthy to be the ‘world’s first’.