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Article: Samsung Profits Up as Flash Demand Soars.(Q4 2003)(Brief Article)
- Article from:
- Computergram International
- Article date:
- January 16, 2004
CopyrightCOPYRIGHT 2004 Datamonitor. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Soaring demand for flash memory chips to fuel the boom in digital cameras and MP3 players ensured that Samsung Electronics Co ended the year with soaring profits.
The South Korean electronics giant expects growth to continue in the current quarter. It predicts sales for 2004 will rise 6.3% to KRW 46.34 trillion ($39bn) though most analysts regard this as conservative.
In the fourth quarter to December 31, net income rose 24% to KRW 1.86 trillion ($1.57bn) on revenue 22% higher at KRW 12.89 trillion (10.8bn). For the year, net income rose 102.7% to KRW 5.96tr ($5bn) on revenue 6.2% higher at KRW 43.58 trillion ($36.7bn).
Samsung's success in ...