Friday, January 13, 2006

Samsung Electronics Posts Record Revenue, Net Profit in 2005

Korea's Samsung Electronics announced that its latest quarterly net profit soared 36 percent to 2.6 trillion won on its largest-ever revenue of 15.5 trillion won, thanks to strong demand for memory chips, mobile phones and display panels.

The operating profit of the worldÂ’s largest chipmaker was 2.1 trillion won in the three-month quarter through December. The difference between the operating profit and the net profit indicates that some of its overseas subsidiariesÂ’ sales are categorized as non-operating profit, the firm said.

The robust quarterly result helped Samsung post yearly revenue at 57.4 trillion won ( over $57 billion).

Samsung also gave an upbeat forecast for this year. It projected that its revenue will reach 63.6 trillion won this year, which means an 11-percent jump from last year. It also said it will raise its R&D spending to 6.1 trillion won, up by 12 percent from what it spent last year.

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