Samsung tops RM38b in net profits

  • ASEAN+
  • Sunday, 16 Jan 2005

SEOUL: Samsung Electronics Co said on Friday its net profit topped US$10bil (RM38bil) last year, reaching a new landmark in its 35-year history of rising from a Third World television maker to the world’s No 1 maker of memory chips and flat panel screens.  

Samsung exited last year on a weak note, with its fourth-quarter net profit falling 2% from a year earlier to 1.83tril won (RM6.7bil) due to squeezed margins for its mobile handsets and weaker prices for liquid crystal displays.  

But the firm, one of the world’s most profitable high-tech companies, had a healthy performance for the year as a whole and was forecast to do equally well this year thanks to strong demand for chips and a growing appetite for Samsung’s savvy mobile phones.  

The company said it would invest 10.27tril won (RM37.4bil) to upgrade production facilities for chips and liquid crystal displays and churn out more cellphones.  

Samsung remained concerned about a stagnant domestic market and the rising value of the won against the US dollar. – AP  

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