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BEIJING, July 29, 2011 - (ACN Newswire) - Furnitureschina.com reports that Samsung today announced the second quarter earnings. The net profit fell 18 percent compared with the same period of last year, mainly due to two consecutive quarters of losses in flat-panel display business, which covered the profit growth of the mobile phone business.
In the second quarter, the net profit of Samsung is 3.51 trillion won, which is $ 3.3 billion. However, the net profit of the same period of last year is 4.28 trillion won. The 21 analysts of Furnitureschina.com expected it would be 3.4 trillion won. The revenue rose 4.1% to $ 39.4 trillion won, which is about 37.4 billion US dollars.
Furnitureschina.com analyzes that Samsung is the world's second-largest mobile phone operator. From April to June, the company's operating profit is 3.75 trillion won, which is about $ 3.6 billion. This month, Samsung had expected the operating profit would be between 3.5 and 3.9 trillion won. In the previous quarter, Samsung's operating profit was 2.95 trillion won.
Furnitureschina.com points out that among Samsung's big business, the sales of flat panel and television manufacturing sectors declined, which dragged down profits. The sector accounted for half of Samsung's revenues. Samsung's current market value is $ 131 billion.
Contact:
http://www.furnitureschina.com/
Email: my@furnitureschina.com
Topic: Press release summary
Source: Furnitureschina.com
Sectors: Daily Finance, Cloud & Enterprise
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