SEOUL, South Korea (TheStreet) -- Samsung swung to a profit in the fourth quarter, earning 3.05 trillion won ($2.63 billion) on sales that were 37% higher.
Samsung a year earlier lost 22 billion won, the first net loss since it began reporting quarterly results in 2000.
Samsung reported fourth-quarter revenue of 25.32 trillion won vs. 18.45 trillion won a year earlier.
The consumer electronics maker said it benefited from higher prices for memory chips in the quarter. Samsung sold about 11 million flat-screen TVs in the fourth quarter, while mobile phone sales rose 16% to 69 million units.Samsung is the No. 1 maker of computer memory chips and ranks behind Nokia (NOK) in cell phones. The company could pass Hewlett-Packard (HPQ) to become the world's largest technology company by sales this year, according to the Wall Street Journal. Samsung said it expects "positive growth across its businesses in 2010." -- Reported by Joseph Woelfel in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV