Right after Apple declared their exuberant financial health, Samsung published the summary of their financial Q1 2009. The report indicates that the company has made profit again, after failing to do so last quarter for the first time in their history.
In Q1 2009 the South Korean company recorded revenue of about 13.6 billion US dollars with operating profit of 112 million US dollars and net income of 463 million US dollars. Compared to the same period last year those numbers indicate 9% increase in the revenue, 93% decline in the operating profit and 72 percent decline in the net income. It's not the best of achievements, but at least all the numbers have positive values this time.
It's worth noting though that the telecom division of the company has alone generated operating profit of over 700 million US dollars, which is some 509 percent more than the previous quarter. The other divisions however didn't do as well leading to the lower total number, mentioned above.
The Samsung telecommunication branch has shipped 1% less handsets than 1Q of last year but due to general market contraction this is still expected to spell an increase in terms of market share. Samsung see the reason behind their market leadership in the enhancement of each segment of their lineup and in the active joint marketing with carriers.
Despite that, the Samsung expectations for the next quarter are still gloomy with the EU market slowdown expected to continue due to weak consumer confidence. The emerging markets growth is also slowing down due to credit issues and new subscriber growth slowdown.
On the positive side Samsung expect an increase in smartphone, touchphone and 3G phones for the China market sales. They also look forward to increased new model launches and intensified price competition, which certainly sounds like good news for the end users.
Samsung is still maintaining its last year's forecast of general market shrinking by 5 to 10 percent, slightly more optimistic than most competitors who predict firm 10% of decline.
For more numbers and info on the Samsung Q1 2009 report follow the link.