Samsung Hit Record Figures- Sales of $42 billion and $4.72 billion Profit in Q4 2011
We recently elaborated Google performance in Q4 2011 in a post now its time to put our eyes on the South Korean giant Samsung. Samsung Co has announced their financials of Q4 2011, the firm was able to generate $42 billion sales and $4.72 ( about 5.3 trillion in terms of Korean currency won ) Operating profit in the fourth quarter of 2011. The profit figures represent a gigantic increase, comparing them again fourth quarter of 2010 it is has increase by 76%.
This year Samsung will be increasing its spending by 9% taking it to $22 billion. Kim Young-chan, analyst at Shinhan Investment & Securities made the point
“It’s unlikely Samsung and Apple will fight over each other’s market share, but they will eat up the market share of smaller companies like HTC and RIM”
Samsung’s senior vice-president Robert Yi had to say
“Despite intensified competition amid the global economic slowdown, our telecommunications businesses continued to post solid earnings with an enhanced line-up of high-end smartphones, resulting in higher average selling price.”
[Via : First Post ]