Samsung Electronics Q4 profit fell 8 pc
Samsung Electronics Co reported on Friday that fourth-quarter profit declined 8 per cent, amid a stronger South Korean currency and price declines for key products including flash memory chips.
By Agencies |
SEOUL: Samsung Electronics Co reported on Friday that fourth-quarter profit declined 8 per cent, amid a stronger South Korean currency and price declines for key products including flash memory chips.
Samsung, South Korea's largest company, earned $2.5 billion in the three months ended Decwmber 31, the company said in a statement.
The result was slightly better than expected. The average estimate of 11 analysts surveyed by Dow Jones Newswires forecast that Samsung would post a net profit of $2.47 billion.
Sales during the quarter rose 1.1 per cent to $16.66 billion.
The US dollar traded at 939 to the South Korean Won on average in the final three months of 2006, weaker than 1,037 Won a year ago.
A stronger Won can make South Korean products more expensive in overseas markets and lower the value of earnings abroad when converted into the South Korean currency.
About 80 per cent of Samsung's products are exported.
Samsung, South Korea's largest company, earned $2.5 billion in the three months ended Decwmber 31, the company said in a statement.
The result was slightly better than expected. The average estimate of 11 analysts surveyed by Dow Jones Newswires forecast that Samsung would post a net profit of $2.47 billion.
Sales during the quarter rose 1.1 per cent to $16.66 billion.
The US dollar traded at 939 to the South Korean Won on average in the final three months of 2006, weaker than 1,037 Won a year ago.
A stronger Won can make South Korean products more expensive in overseas markets and lower the value of earnings abroad when converted into the South Korean currency.
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About 80 per cent of Samsung's products are exported.
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