Samsung Electronics enjoys Q1 profit jump

In spite of memory slide

Samsung Electronics has shown it's handling the memory price slide by posting net profits of 1.24 trillion won ($940 million) for the first quarter of 2001.

Sales for the period were 8.6 trillion won ($6.54 billion), down 5.5 per cent from the 9.1 trillion won ($6.92 billion) for the last three months of 2000. Net profits for that quarter were 1.16 trillion won ($880 million).

Samsung's chip business accounted for 35 per cent of its sales for the quarter at 3.0 trillion won ($2.28 billion). This was down nine per cent from the previous quarter. Two thirds of this was memory sales. But the company made a 1.2 trillion won ($910 million) cut in capital expenditure, solely from the semiconductor business.

Samsung's TFT LCD sales hit 500 billion won ($380 million). ®