International News

(Telecompaper) Samsung Electronics reported revenues of KRW 47.3 trillion on a consolidated basis for the fourth quarter of 2011, up 13 percent from a year earlier. Telecommunications was the main driver, with revenues up 52 percent to KRW 7.82 trillion, led by strong Galaxy S II and Galaxy Note handset sales. The group posted operating profit of KRW 5.3 trillion, up 76 percent, including a record KRW 2.64 trillion from the telecom division, up 79 percent year-on-year. Net profit for the quarter was KRW 4.0 trillion, up from KRW 3.4 trillion a year earlier. Samsung said its smartphone shipments were up around 30 percent from the previous quarter, led by strong seasonal demand, especially in developed markets such as the EU. The average selling price also improved sequentially. Samsung said LTE network equipment sales also continued to grow, with the expansion of LTE in Korea and North America. For the global market outlook for this year, demand for entry-level smartphones and tablet PCs is expected to increase significantly, while the growth momentum for feature phones is expected static. Emerging markets and the spread of LTE have also contributed to the growth of the smartphone market, which is expected to expand by more than 30 percent in 2012. In Q1, global handset demand is expected to contract due to a seasonal slowdown, while competition in smartphones remains intense.