Samsung’s Second Quarter Profits drop 26% year-on-year

By on July 8, 2011
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Numbers a result of poor TV and semiconductor sales

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While Samsung may seem to be in the clear with its intense sales of the Galaxy S 2 (3 million units in 55 days and counting), it seems all is not well for the tech Giant. Latest figures just being reported in Engadget show that the company reported a year on year 26% drop in profit.

The drop comes at the cost of roughly $3.5 billion in profit which Samsung claims comes on the back of weak Flat Screen TV sales and semiconductors. The silver lining, if any, is that the drop in profit is much less than many analysts expected probably due to the fact that diversification saved the day for Samsung. A strong mobile division meant that sales of feature and smartphones quadrupled on a year-on-year level with Samsung selling 19.2 million units. All in all, Samsungs revenue grew by 2.9% ($36.7 Billion).


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