InfoAnda - Samsung's Galaxy powers record $5.9 billion profit; euro a worry |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

'King's Speech' gets new Oscars boost | 31 January 2011
CHRONOLOGY-South Korea tackles financial, economic crisis | 18 February 2009
Moderate earthquake hits off coast of Taiwan | 4 October 2009

China mudslides highlight cost of rapid economic growth | 13 August 2010

Forum Views () Forum Replies ()

Read more with google mobile : Samsung's Galaxy powers record $5.9 billion profit; euro a worry |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Anatole Kaletsky Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Frederick Kempe Christopher Papagianis Mark Leonard Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Slideshow Video Follow Reuters Facebook Twitter RSS YouTube Read Contest may send rapper Pitbull to Alaska Wal-Mart 05 Jul 2012 Virus could black out nearly 250,000 PCs 05 Jul 2012 California Senate passes "anti-Arizona" immigration bill 1:07am EDT Three central banks take action in sign of alarm 05 Jul 2012 Judge who shelved Apple trial says patent system out of sync 05 Jul 2012 Discussed 255 In California, immigration bill designed as the ”anti-Arizona” 116 Insight: ”Green Fleet” sails, meets stiff headwinds in Congress 111 Mormons quit church in mass resignation ceremony Watched The future of war – Tech Tonic Wed, Jul 4 2012 Turkey releases new images of downed plane Thu, Jul 5 2012 Fashion, fast cars and beautiful women: James Bond's style legacy Thu, Jul 5 2012 Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption Arafat's Legacy A look at the life and legacy of Palestinian leader Yasser Arafat. Slideshow Space odysseys From the scientists on the ground to stunning views from space, a look at man's continuing exploration into the final frontier. Slideshow Samsung's Galaxy powers record $5.9 billion profit; euro a worry Tweet Share this Email Print Related News UPDATE 2-Samsung's Galaxy powers record $5.9 bln profit; euro a worry Thu, Jul 5 2012 Galaxy to power record $5.9 bln profit, but Samsung sweats over euro Thu, Jul 5 2012 U.S. Judge rejects Samsung request to lift stay on Nexus sales Tue, Jul 3 2012 Samsung loses bid to lift ban on U.S. tablet sales Tue, Jul 3 2012 Micron to buy Japanese chip maker Elpida Mon, Jul 2 2012 Analysis & Opinion Will Microsoft learn through self-flagellation? iPhone anniversary marks triumph over crisis Related Topics Tech » Media » South Korea » iPad » Euro Zone » Related Video Apple’s on fire in China, but there could be a catch - Tech Tonic Thu, Jul 5 2012 1 of 2. A man tries Samsung Electronics' new Galaxy S III smartphone that is on display at a store in Seoul in this June 26, 2012 file photo. Credit: Reuters/Lee Jae-Won/Files By Miyoung Kim SEOUL | Fri Jul 6, 2012 4:17am EDT SEOUL (Reuters) - Soaring sales of the Galaxy smartphone drove record quarterly profit of $5.9 billion at Samsung Electronics, though the South Korean tech giant is sweating over how Europe's debt crisis is denting demand in its biggest market for televisions and home appliances. The flagship Galaxy smartphones are likely to have stretched their lead over rivals Apple and Nokia - despite a parts shortage that meant it struggled to keep up with stronger-than-expected demand for its latest S III model. While strong handset sales grab the headlines, more than doubling profit growth, other businesses such as chips and consumer electronics are battling weak prices and demand and a limp euro, which eats away at repatriated profits. In a sign that the euro zone crisis is exercising minds in boardrooms around the globe, Samsung executives said this week the group was operating to a contingency plan. "Europe is our biggest consumer electronics market and we may have to initiate cost cuts and product price increases should the euro fall further from the current level," said one executive who didn't want to be named as the plan is internal. "Our smartphones are flying off the shelves, with some outlets reporting 40-60 percent sales growth, but that's distorting the overall trading outlook which is more challenging due to the weak global economy and a weak euro." The euro has fallen around 5 percent against the Korean won since April, and about 8 percent in the past year, to 2-year lows. PRICE PRESSURE In its April-June earnings guidance on Friday, Samsung, valued at $170 billion and the world's leading maker of TVs, smartphones and DRAM memory chips, estimated operating profit jumped 79 percent to 6.7 trillion won from a year ago - in line with an average forecast in a Reuters survey of 23 analysts. That would be 14.5 percent higher than the previous record quarterly profit in January-March. Samsung estimated its second-quarter revenue at 47 trillion won ($41.4 billion), just below a 50 trillion won forecast. "Revenue is below our forecast, which suggests price pressure was more severe than had been expected in products such as televisions and home appliances," said Nho Geun-chang, analyst at HMC Investment Securities in Seoul. "Earnings will be stronger in the current quarter as sales of the high-end Galaxy S III will increase dramatically and drive the telecom division's earnings to above 5 trillion won," he said, predicting shipments of the S III would hit 19 million this quarter. Samsung is due to release its full second-quarter results - the first since its components chief Kwon Oh-hyun took over as CEO - towards the end of this month. Samsung and local rival LG Electronics are among the few global TV makers making money and gaining market share from stumbling Japanese rivals Sony, Panasonic and Sharp. But, spooked particularly by a weak chip market, Samsung shares have dropped 15 percent in the past two months, while the broader Korean market has fallen just over 5 percent, and Apple has gained almost 3 percent. The stock lost another 2 percent on Friday, closing at 1.16 million won ($1,000) in a market down 0.9 percent. "Samsung's profits have yet to peak, and with smartphone sales and recovering chip prices to propel earnings even higher in the second-half, the bar's been raised so high that even in-line earnings disappoint some optimists," said Lee Jin-woo, an analyst at Mirae Asset Securities. Smaller Taiwanese rival HTC, which once boasted the biggest share of the U.S. smartphone market, on Friday reported that its quarterly net profit more than halved as European sales disappointed and U.S. sales were delayed by customs inspections. MOBILE DRIVER Profit from Samsung's mobile division is likely to have more than doubled to around 4.4 trillion won from a year ago, with sales of around 50 million smartphones - at a rate of 380 every minute. Current quarter mobile profits are expected to forge further ahead as the latest Galaxy model enjoys a boom before the next iPhone launch. Samsung's overall third-quarter operating profit is likely to be between 7.3 trillion won and 9.1 trillion won, an increase of as much as 36 percent from the second quarter, according to a Reuters survey of 14 analysts. The mobile business brings in more than 70 percent of Samsung's earnings. While the next iPhone, expected later this year, will likely slow Samsung's handset earnings growth, it will boost the Korean firm's semiconductor earnings as Samsung is the sole producer of processing chips used to power the iPhone and iPad, and also supplies Apple with mobile memory chips, NAND flash and display screens. "Earnings will grow further as the semiconductor division will also stage a solid recovery on the back of improving DRAM and NAND demand," said Jeff Kang, an analyst at Daishin Securities, adding the division could increase earnings by 1 trillion won this quarter. ($1 = 1135.0750 Korean won) (Additional reporting by Hyunjoo Jin and Joonhee Yu; Editing by Ian Geoghegan) Tech Media South Korea iPad Euro Zone Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Friday, 6 July 2012
Long road ahead in U.S.-Pakistan ties after NATO deal |
Final Mexican results confirming Pena Nieto win |
Nervous Libyans ready for first taste of democracy |
Left, right criticize Humala over deadly Peru clashes |
Dry taps and open sewers: welcome to India's Millennium City |
Morality killing triggers fears and debate in Egypt |
Exclusive: News Corp's Miller, Hulu's Kilar on Yahoo CEO list-sources |
Microsoft stumbles into crucial financial year |
Proxy advisor withholds support for RIM board member |
Galaxy to power record $5.9 billion profit, but Samsung sweats over euro |
Emulex to pay Broadcom fees in partial settlement |
Contest may send rapper Pitbull to Alaska Wal-Mart |
Will & Grace star returns to TV in Perception |
Tina Fey turns rapper for Childish Gambino |
Rihanna sues ex-accountants, says she lost millions |
MGM files to stop production of Raging Bull sequel |
UN urges countries to impose global taxes to boost aid |
Defection cheers anti-Assad coalition at Paris meet |
Mexican vote recount confirms Pena Nieto win |
Laos denies pushing ahead with controversial dam |
Key Argentine Dirty War figures jailed for baby thefts |
Myanmar detains Thai villagers in unclear border area |
Samsung's Galaxy powers record $5.9 billion profit; euro a worry |
Microsoft stumbles into crucial financial year |
U.S. online job demand rises in June |
Virus could black out nearly 250,000 PCs |
Yahoo CEO search down to Levinsohn, Hulu's Kilar |
Taiwan HTC Q2 net lags forecasts as smartphone sales sag |
Seagate sees revenue below estimates |
U.S. album sales slump, digital rises in first-half 2012 |
Actor Andy Griffith's death caused by heart attack |
Iran blames France, Germany for atomic scientist assassinations |
Nervous Libyans ready for first taste of democracy |
Analysis: Combative leader a mixed blessing for Mexico's Left |
Russia rights groups fear crackdown as law changes |
Former Baader-Meinhof gang member jailed over 70s murder |
Fair Gaddafi trial in Libya impossible: ICC lawyer |
Sudan police teargas protesters after prayers |
UN talks, water matter most to Cyprus: minister |
Seven arrested in British anti-terrorism raids |
Media, tech deals may make comeback at Sun Valley |
Judge approves Netflix privacy settlement |
Berenberg cuts Cognizant, VMware to hold |
Sandvine posts wider-than-expected loss |
U2 bassist PA sentenced to seven years in theft case |
Woman admits smashing Simon Cowell's window |
Russia musicians make anti-Putin protest White Album |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01