Samsung achieves record quarterly profit of $5.9 billion

Samsung was definitely on a roll during the previous quarter, having hit a whopping $5.9 billion in terms of its profit, although the South Korean conglomerate does have its fair share of struggles to handle, including Europe’s current mire of debt that has certainly dampened demand in its biggest market for TVs as well as home appliances. Samsung’s flagship Galaxy smartphones do seem that they are doing more than enough to increase its lead over bitter rivals Apple and Nokia, never mind that there is a parts shortage which could only mean one thing – it could have performed better, and there is a need for them to figure out their parts availability model with their suppliers.

According to one Samsung executive, “Europe is our biggest consumer electronics market and we may have to initiate cost cuts and product price increases should the euro fall further from the current level. Our smartphones are flying off the shelves, with some outlets reporting 40-60 percent sales growth, but that’s distorting the overall trading outlook which is more challenging due to the weak global economy and a weak euro.”

Well, there you go – at least it goes to show once again that not putting all your eggs in a single basket is always a good thing.

Edwin Kee
Categories: Computers
Tags: Samsung