Samsung posts Q2 2009 results

Samsung has posted the second quarter 2009 results and it goes well with the earnings guidance announced two weeks back. They have recorded revenues of 32.5 trillion KRW with an increase of 11.7 percent on YoY basis. The operating profit too had an increase of 5 percent of 2.52 trillion KRW on YoY or a whopping 436 percent increase if we consider with the previous quarter. The net income stood at 2.5 trillion KRW.

Samsung’s satisfying revenues are a result of demand for consumer electronics as well as the improved pricing for LCD panels and semiconductors.

Samsung’s Mobile handset sales were up by 14 percent by last quarter and maintained an operating profit of 1 trillion KRW. The Digital Media division also recorded a decent operating profit of 1.06 trillion KRW that was dominated majorly by flat panel TVs.

On the LCD panel front, Samsung recorded an operating profit of 150 billion KRW. This was a resurgence from the last quarter’s operating loss but showed an 8.1 percent decline on year-on-year basis.

Finally the Semiconductor department also posted an operating profit of 240 billion KRW mainly because of strong PC sales and portable devices that rose the market price of DRAMs and NAND.

Samsung also confirmed to adopt the International Financial Reporting Standards from the next financial year.