Samsung Reveals Q3 2010 Earnings

Handset sales up 12%

Oct 29 2010, 12:56pm CDT | by Robert Evans

Samsung has just closed off an incredible quarter. their revenues for Q3 were 40.23 trillion Korean won, which marks a 12% increase year-over-year. This is also a new record for Samsung, whose previous best quarter was Q4 2009 (39.25 trillion won).

Consolidated net income for Q3 totalled 4.46 trillion won, which represents a 17% y-o-y increase from 2009. Operating profit for the quarter came in at 4.86 trillion won. These numbers come with the caveat of 230 billion won in patent-related expenses. Without those one-time costs, Samsung's profit for the quarter would have totalled 5.1 trillion won.

Samsung's semiconductor business made record sales of 10.66 trillion won this quarter, while the memory division made up some 7.49 trillion in revenue. Weak PC, LCD and semiconductor demand is expected to slow profits in Q4. Mobile handset sales are up 12% this quarter. for a total of 71.4 million Samsung handsets sold.

The Galaxy S has now launched in 90 countries, with 210 worldwide carriers. 10 million are expected to sale before 2010. The first Bada OS phone, the Samsung Wave, sold over 2 million units in some 80 countries.

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Robert Evans
The excitement about new smartphones, tablets and anything mobile drive Robert to unearth the latest rumors and developments in this fast moving space. He adopted 4G as soon as it become available and knows where the mobile market is going.
Robert can be contacted directly at robert@i4u.com.