While arch rival Sony wallows under a mountain of losses, Korean Manufacturer Samsung Electronics has seen sales rise 19% and profits climb to $3.5 Billion dollars.
While arch rival Sony wallows under a mountain of losses, Korean Manufacturer Samsung Electronics has seen sales rise 19% and profits climb to $3.5 Billion dollars.
In contrast Sony, who has had TV market share snared away from them in both the Australian and US markets, is expected to announce falling sales and losses of over $1.8 Billion dollars.
In Australia Samsung is tipped to have revenues in excess of $1.3 Billion dollars this calendar year. Sony had revenues of $924M for the 12 months ending March 2009.
Samsung, who is also world’s biggest memory chipmaker by revenue, said today that it expects global sales for the three months ended Sept. 30 to be $35.21 Billion, up from actual sales of 30.27 billion a year earlier.
The Wall Street Journal reported that analysts had said that recent sharp rise in memory chip prices, combined with continued firm performances in Samsung Electronics’ other businesses, would have contributed to the company’s better earnings in the third quarter. However, they expect its earnings growth to taper off in the current quarter due to strengthening local currency and seasonally higher marketing costs.
