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Galaxy phones drive Samsung to record profit again

Thursday, July 26th, 2012

Galaxy phones drive Samsung to record profit again
News from San Francisco Chronicle:

SEOUL, South Korea (AP) — Samsung, the world’s largest technology firm by revenue, reported another record-high quarterly profit as customers flocked to Galaxy smartphones amid the absence of competitors, which helped the South Korean firm outdo rivals even at one of the most challenging times for the global tech industry.

Samsung Electronics Co. said Friday its net profit reached a record-high of 5.2 trillion won ($ 4.5 billion) in the three months ending in June, a 48 percent jump from a year earlier.

But the bottom line was lower than a median market consensus of 5.6 trillion won based on a poll of seven analysts by Yonhap Infomax.

Its second-quarter operating profit spiked 79 percent over a year earlier to 6.7 trillion won and its revenue rose 21 percent to 47.6 trillion won, matching Samsung’s guidance released earli…………… continues on San Francisco Chronicle

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LG sells 13.1m phones in Q2 ’12, 44% were smartphones
News from SlashGear:

We know you’re excited about all these financial results, so we’ll just keep them coming. LG has managed a healthy profit overall for the second quarter, up 46% compared to the same period last year, but its cellphone business took a hit. That caused an overall decline in revenues too compared to last year, down by 10.6% to $ 11.16 billion. LG’s cellphone business may not be looking good, but its home entertainment section is looking better than ever.

LG sold 13.1 million phones worldwide in the second quarter, with 44% of those being smartphones, up from 36% last quarter thanks to strong LTE handset deployment. Revenues were down 27.5% year-on-year at $ 2.01 billion, resulting in a loss of $ 49.48 million for that section of the company. LG notes that it plans to rollout further LTE-enabled phones in the second half of the year across the United States and Europe that should bolster its smartphone numbers.

The other part of LG that helped offset the loss in the cellphone division was Home Appliances. Revenues increased to $ 2.50 billion, resulting in a third fold increase in profit to $ 143.23 million. That’s all thanks to a dive…………… continues on SlashGear

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