TWICE: Samsung Electronics reported record revenue of $18.2 billion for the third quarter of 2007, ended Sept. 30. Operating profit on a consolidated basis reached $2.98 billion, a 93 percent increase over the last quarter.
Record quarterly sales in the telecommunication handset business, coupled with a strong performance by the semiconductor business, despite challenging market conditions, fueled the company’s overall performance.
The LCD and digital media businesses also maintained leadership positions in advance of significant growth expected in the traditionally strong holiday season, according to the company.
“During the third quarter, all businesses of the company, including semiconductors, demonstrated solid performances on the foundations of their product and cost competitiveness,” said Dr. Woosik Chu, executive VP and head of Samsung Electronics’ investor relations team.
“Our results demonstrate strong fundamentals throughout the company, with earnings expected to continue trending upward as the fourth quarter brings greater demand for mobile phones and LCD TVs.”
The telecommunication network business posted an operating profit of $642.5 million on the quarterly revenue of record-high $5.53 billion.