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Earnings: Mobile Phones Sales Help Samsung Post Record Profits

Samsung Electronics reported first quarter results Friday, with sales of mobile phones and flat screen TV’s helping boost profits to its highest level in 2 years. Net profits climbed 37 percent in the first three months of the year to $2.2 billion, reports Bloomberg. Samsung, now the second largest handset maker in the world behind Nokia (NYSE: NOK), said that mobile phone sales were similar to the previous quarter, in which a record 46.3 million handsets were sold. Samsung bosses pointed out that this was achieved despite a 13 percent contraction in the mobile phone market. As with Sony (NYSE: SNE) Ericsson (NSDQ: ERIC) and Nokia, emerging markets were good to Samsung, with countries like China and India being a “main driver of growth.”

 

Dianne See Morrison Apr 25, 2008 4:53 AM ET
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Posted In: Money, Earnings, Companies, Samsung

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Unhealthily Obsessed With Mobile Content | mocoNews Newsletter

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