By Keri Algar
SYDNEY, NSW: Samsung today announced soaring profits for Q2 with revenues up 17 per cent, year on year.
The Korean company posted a net income of AU $4 billion for the quarter and has credited the global growth of personal computers and smartphones, which bumped up prices of key components like memory chips and LCD panels.
The LCD business recorded an operating profit margin at 11.3 percent, compared with 4.2 percent the previous year.
Mobile handset sales are up 22 per cent. Meanwhile, Samsung is taking a “strong lead” in the 3D television market with over half a million units sold since March, according to a statement released by the company.
Samsung vice president, Robert Yi, said introducing new products would help the company maintain its strong growth.
"With intensified competition throughout the digital media and mobile industries going forward, it may become a challenge to maintain current profitability levels,” said Yi.
“However, we will continue to focus on introducing differentiated products and widening our technology leadership in components to meet these difficult market conditions.”