Samsung reaches $10b in profit<\/p>\n
SEOUL: Samsung Electronics Co. said on Friday its net profit
\ntopped US$10 billion last year, reaching a new landmark in its
\n35-year history of rising from a Third World television maker to
\nthe world's No. 1 producer of memory chips and flat panel
\nscreens.<\/p>\n
Samsung exited last year on a weak note, with its fourth-
\nquarter net profit falling 2 percent from a year earlier to 1.83
\ntrillion won ($1.76 billion) because of squeezed margins for its
\nmobile handsets and weaker prices for liquid crystal displays.<\/p>\n
But the firm, one of the world's most profitable high-tech
\ncompanies, had a healthy performance for the year as a whole and
\nwas forecast to do equally well this year thanks to strong demand
\nfor chips and a growing appetite for Samsung's savvy mobile
\nphones.<\/p>\n
Reflecting the optimism, the company planned to invest 10.27
\ntrillion won, a 34 percent increase from last year, to upgrade
\nproduction facilities for chips and liquid crystal displays and
\nchurn out more cell phones.<\/p>\n
According to data released on Friday, Samsung's net income
\nlast year zoomed a whopping 81 percent to 10.79 trillion won,
\nwhile annual sales rose 32 percent to 57.63 trillion won. -- AP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/samsung-reaches-10b-in-profit-1447899208",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}