Samsung Electronics Co. Ltd announced revenues of $37.48 billion on a consolidated basis for the second quarter ended June 30, 2011, a 4 percent increase year-on-year. For the quarter, the company posted consolidated net income of $3.34 billion, representing an 18 percent decrease year-on-year. Consolidated operating profit for the quarter was $3.56 billion.
While a majority of the profits came through Telecommunications, audio visual products including SMART TVs, LEDs, and flat panel screens saw strong growth and an increase in revenue. The Digital Media and Appliances (DMA) businesses – including Visual Display, IT Solutions and Digital Appliances – posted revenues of $13.37 billion for second quarter. The operating profit of $485 million represented an improvement on the $95.02 million registered the same period last year.
Samsung’s flat panel TV shipments and profitability both increased for the quarter, as sales of LED TVs continued to pick up in developed and emerging markets. LED TV sales accounted for roughly half of all Samsung LCD TVs sold for the quarter, reflecting the wide acceptance of the new technology.
“We are very pleased with the quarterly results for the DMA businesses. Since the launch of Samsung’s Smart TVs in the region, sales have increased almost 4 percent every month. We project this growth to continue in this region as demand for SMART TVs increase,” Justin Shaw, General Manager of AV division, Samsung Gulf Electronics said.