Samsung profits suggest tech industry recovery

Samsung has recorded results reported as its best ever quarterly earnings, showing quick recovery from the tech industry downturn.

Its third quarter net income increased by 15 per cent from the second quarter and was a 206 per cent increase from a year ago, showing that the third quarter was a good one when it came to sales of semiconductors, LCD panels and mobile phones.

Samsung shipped 60.2 million mobile handsets during Q3, a 15 per cent increase from Q2 and a 16 per cent increase from a year ago. The company put this down to a diversified product line-up that included the recently released Jet.

It expected steady sales growth next quarter with Christmas approaching and the launch of new smartphones using the LiMo and Android platforms.

With semiconductors, the company was able to increase the prices of DRAM in Q3 due to high seasonal demand. Demand for NAND was also high due to increased demand from consumer and mobile applications.

With LCDs Samsung expected strong sales in the fourth quarter, driven by strong sales of consumer notebooks and a higher than expected demand for corporate monitors.