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Samsung's profits eclipse $4 billion in second quarter
 South Korea-based electronics manufacturer Samsung recently announced its profit surpassed $4 billion in the second quarter of 2010. Its record-setting success in April, May and June resulted from especially strong sales of LCD TVs and memory chips, however, a projection of lagging TV sales in the second half of 2010 makes it unlikely Samsung will repeat its success.
Aside from its consistently strong performance, consumers turned to Samsung because many believe it offered the best deal on LCD TVs. In fact, PC World compared a Samsung LCD TV to a competitor's model earlier this year and found, while both were impressive, Samsung is the industry leader in premier technology and great value.
"With intensified competition throughout the digital media and mobile industries going forward, it may become a challenge to maintain current profitability levels. However, we will continue to focus on introducing differentiated products and widening our technology leadership in components to meet these difficult market conditions," Robert Yi, vice president and head of Samsung Electronics' Investor Relations Team, said.
Samsung has experienced success in its digital camera sales and innovation in 2010 as well. Most recently, the company released a camera with viewing screens on both sides to improve self portraits.
posted: 07-30-10
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