Samsung reports mobile phone sales surge, despite overall loss

Samsung reports mobile phone sales surge, despite overall loss

 

Samsung Electronics has posted its first-ever quarterly loss, after handset shipments reached record levels while the average selling price declined. The company reported its results for the fourth quarter ended December 31 today (23 January).

 

Samsung shipped 52.8 million handsets in the last quarter of 2008, a 14% increase on the 46.3 devices it shipped in the same quarter in 2007. It sold about 200 million handsets in 2008 – a 22% increase on 2007.

 

However, Samsung sold its handsets at lower prices, so the average selling price was 10% down.

 

The company said that it expects the global handset market to shrink even more and that it expects the decline to be between 5% and 10%.

 

The electronics giant posted an overall net loss of 22.2bn won (£11.6m), compared with profits of 2.21 trillion won a year ago. The losses are the first since it started to report quarterly results in 2000.

 

Written by Mobile Today
Mobile Today

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