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Samsung says 2Q net profit surges 83 percent

Thu, 07/29/2010 - 5:05pm
The Associated Press

Samsung Electronics says net profit surged 83 percent in the second quarter to a record high amid increased sales and strength in its semiconductor and flat panel businesses.

The company said Friday it earned 4.28 trillion won ($3.61 billion) in the three months ended June 30. It had net profit of 2.33 trillion won the year before.

The result bested the company's previous all-time high net profit of 3.99 trillion won set in the first quarter of this year.

Samsung said second-quarter sales totaled 37.89 trillion won, 17 percent higher than 32.51 trillion won last year.

Samsung Electronics Co. is the world's largest manufacturer of computer memory chips, flat screen televisions and liquid crystal displays. It ranks No. 2 in cell phones.

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