Samsung reveals flat year-on-year revenue growth
Consolidated revenue stood at $37.48bn, consolidated net income falls 18%
Samsung has revealed a 4% increase in revenues year-on-year for Q2 2011, reported revenues stood at $37.48 billion on a consolidated basis. The company posted consolidated net income of $3.34 billion, an 18% decrease year-on-year.
Operating profit of $485m represented an improvement on the $95.02m registered the same period last year.
Samsung made the majority of its profits for the quarter through telecommunications and audio visual products including SMART TVs, LEDs, and flat panel screens, which saw strong growth.
Samsung's flat panel TV shipments and profitability both increased for the quarter, as sales of LED TVs picked up in both developed and emerging markets. LED TV sales accounted for roughly half of all Samsung LCD TVs sold for the quarter.
The Digital Media & Appliances business, which includes visual displays, IT solutions and digital appliances, posted revenues of $13.37bn for second quarter.
"We are very pleased with the quarterly results for the DMA businesses. Since the launch of Samsung's Smart TVs in the region, sales have increased almost 4% every month. We project this growth to continue in this region as demand for SMART TVs increase," said Justin Shaw, General Manager of AV division, Samsung Gulf Electronics.
Samsung has predicted that flat panel TV market demand in the third quarter will increase in the mid 10% range quarter-on-quarter supported by strong seasonality.
Samsung also aims to expand sales of Smart TVs by providing region-specific TV applications and content for viewers. In the UAE, Samsung launched the 3D Video-on-Demand (VoD) service, available for free via its SMART TV platform.