Samsung Expects Record Q1 Profit

Technology Staff Editor
Posted by in Technology


South Korea's Samsung Electronics Co. Ltd. said it expects to report first quarter sales of 33 trillion to 35 trillion Korean won ($29.2 billion to $31 billion). Samsung (Seoul, South Korea) said it expects to report a consolidated first quarter profit of about 4.3 trillion won ($3.8 billion) According to a report by the Reuters news service, Samsung's first quarter sales target is above consensus analyst expectations and would represent a record for the firm. Reuters also reported that the better-than-excepted guidance was driven by PC demand and increased memory chip average selling prices. In the fourth quarter of 2009, Samsung reported revenue of 39.2 trillion won (about $33.9 billion) and a profit of 3.7 trillion won (about $3.2 billion).
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