The company had the highest earnings ever recorded in a single quarter, reporting a massive USD $3.6-billion profit, largely attributable to increasing demand for semiconductors as the global economy begins to pick up again.
The company’s semiconductor unit had the most year-over-year growth of 57-percent, as the company sold 8.2-trillion Won worth of semiconductor chips, of which 5.59-trillion Won was from memory chips alone, which those sales increased by 76-percent from the same period in 2009. 30-percent of aggregate semiconductor sales were attributable to personal computer parts.
The firm’s LCD division also performed very well, selling 6.85-trillion Won in the quarter, up 40-percent from Q1 2009. The company is hoping to sell more units with the latest high-end next-generation 3D television models.
Samsung’s mobile division experienced the most growth, selling 64.3-million handsets in the quarter, an increase of 40-percent YoY.
The company is also developing it’s own mobile operating system called “Bada”. Samsung is hoping the new OS will be able to directly complete with other established market players including Apple, Google, and RIM (BlackBerry).
Samsung’s net operating profit in Q1 2010 was up 11-percent from Q1 ’09, to 4.41-trillion Won.
ROE in Q1 2010 was 22-percent, up from only 4-percent in Q1 2009, and up from 17-percent from the immediate preceding fiscal quarter.
Despite the high growth quarter, Samsung executives are predicting even higher sales for the second quarter of this year.
The company said it is working on further expanding its current research and development unit to fuel future growth. Samsung says just over 40-percent of total employees at the firm work in its R&D division.
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