Samsung Posts Record Quarterly Profit
SEOUL, South Korea (
) --
Samsung Electronics
posted its highest quarterly profit ever as its memory chip business and flat-screen TV business led the gains.
Samsung said it earned 3.99 trillion won ($3.6 billion) in the quarter ended March 31, compared with earnings of 582 billion won a year earlier.
Sales rose almost 21% to 34.64 trillion won.
Samsung ranks as the largest manufacturer of computer memory chips, flat screen televisions and liquid crystal displays, according to the
Associated Press
. It also is No. 2 globally in mobile phones behind
Nokia
(NOK) - Get Report
.
Samsung said first-quarter sales in its semiconductor business rose 57% to 8.2 trillion won.
The company said it sold 8.4 million flat-screen TVs in the first quarter, up 47%, adding it expects demand to grow 34% in the second quarter.
Samsung sold 64.3 million mobile phone devices in the first quarter, up 40%, and said it sees demand increasing in the second quarter.
-- Reported by Joseph Woelfel in New York.
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