Breaking: Samsung Posts Record-High Q2 Profit Of $5.86 billion

Posted on Jul 27 2012 - 12:00am by Editorial Staff

As estimated, Samsung today announced its second quarter 2012 results, ended June 30, 2012 with revenues of 47.60 trillion Korean won, a 21-percent increase year-on-year. The company’s consolidated operating profit reached a record 6.72 trillion won (about $5.86 billion), representing a 79-percent increase year-on-year. Consolidated net profit for the April-June period was 5.19 trillion won.

The South-Korean giant posted solid sales and even maintained its profit in all business segments. Digital Media & Communications, which includes the Consumer Electronics and IT & Mobile Communications business sectors accounted for 36.57 trillion won in sales, up 37 percent year-on-year.

Samsung’s mobile communication business was one of the main businesses who uphold the company’s profit stream in the June quarter with 20.52 trillion won in revenue. The recent launch of Samsung Galaxy S III and Galaxy Note sales saw earnings jump by 75 percent from a year earlier.

“Despite a difficult business environment, we achieved stable profits in the second quarter through our differentiated products and competitive technology,” said Robert Yi, Senior Vice President and Head of Investor Relations. “As we move into the second half, continued fiscal instability in Europe and its effect on the global economy will result in the possibility of a slower-than-expected recovery and intensified market competition.”

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