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Samsung Reports Record Quarter

Fri, 01/29/2010 - 7:02am
Andrew Berg

Given a string of impressive earnings in the consumer electronics and wireless sectors recently, the tech industry appears to be improving. Samsung continued that trend today, releasing record fourth-quarter earnings for 2009.

The Korean company saw record quarterly sales. Samsung reported $33.9 billion in consolidated revenues, up 18.9 percent from the previous year.

Samsung, which deals in just about every area of the electronics industry, reported shipping 68.8 million cell phones in the quarter, a 16 percent growth year-over-year. The company said it attributes those numbers to an enhanced line-up of smartphones, such as the Omnia 2, as well as strengthened joint promotion with carriers.

In 2010 the company expects shipments to outperform market growth, as it plans to diversify its lineup of touch/AMOLED phones and strategic models for emerging markets. Samsung said it will expand its portfolio of smartphones in the 2010, focusing primarily on Android, LiMo, WinMo and its own Bada platforms. 

Additionally, the company said it plans to grow its mobile WiMAX business and

establish a stable LTE business foundation.

Samsung shares were up 1.5 percent to $220 in early trading.

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