The Korean conglomerate increased earnings 6.5% to $1.57 billion on revenue that rose 15.1% to $9.6 billion. The big driver for growth was its memory chip operation that increased sales sequentially by 39.7% to $2.17 billion, enabling its semiconductor division to increase sales by 26.5% to $4 billion.
Samsung, which is now Asia’s most valuable technology company, increased wireless handset sales by 22.3% sequentially to $2.9 billion. Handset shipments increased by 25% to 15 million, giving it a 12.5% market share as the number-three supplier behind Nokia [NOK] and Motorola [MOT].
The company is about to announce a deal to form an LCD display screen joint venture with Sony [SNE], which would be a huge blow to the joint venture between Philips [PHG] and Hitachi [HIT] that is the market leader.
This article was based on material originally published by ComputerWire.
