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Samsung reports strong Q3

Fri, 07/30/2010 - 8:15am
Andrew Berg, Wireless Week

Samsung Electronics today reported strong second-quarter earnings, with total year-over-year net profits rising 83 percent to $3.6 billion. 

The company's mobile division, Samsung Mobile, did relatively well. The division of the company that makes smartphones and cell phones reported a 17 percent year-over-year jump in revenue to $31 billion and shipped 63.8 million units during the second quarter. That's a 22 percent year-over-year increase but is down a notch sequentially from 64.3 million units.

Fully 30 percent of devices sold were touchscreen phones. That's up from 15 percent year-over-year.

The company attributes the year-over-year increase in shipments to the global economic recovery and blamed the sequential drop on Europe's recent financial woes.

The company said it expects a significant increase in shipments in the second half of 2010 on sales of its Galaxy S and Wave line of smartphones. Additionally, Samsung expects a 15 percent increase in demand in the second half of the year due to strong holiday sales, resulting in "high-single digit" sequential growth.

The company expects strong smartphone growth in the third quarter, highlighting Android phones as a major sales driver. In emerging markets, the company expects 3G and full-touch phones to drive replacement demand.

More Broadband Direct 7/30/10:

•  Technicolor inks MOU with Verizon, lengthens DirecTV agreement
•  AT&T selects Alcatel-Lucent, Cisco and Juniper as domain suppliers
•  MaxLinear chips supercharge Arris D3 gateways
•  Alcatel-Lucent swings to loss, sticks to rosy forecast
•  In the media: Panasonic kills tru2way TV
•  Samsung reports strong Q3
•  Ballmer: Tablet coming 'as soon as we can'
•  Australia govt expands proposed broadband network
•  Broadband Briefs for July 30, 2010
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