Samsung expects to post record operating profits in Q2
Korean based Samsung says that it will score a company record in operating profits by estimating second quarter profits in the range of 4.8-5.2 trillion won ($3.92 billion-$4.25 billion US). The figure is a huge jump over the 2.67 trillion won the company earned in the 2009 period and at 37 trillion won, sales are expected to be up from the first quarter's 34.64 trillion won and the 2009 period's reporting of 32.51 trillion won in sales. For the first quarter, Samsung reported that operating profits surged 643% from the prior year to reach 4.41 trillion won, which is the company's current record for profits during a quarter. The huge jump in the figures is due to improvements in the semiconductor business and increases in set sales. Chip sales had powerful results in Q1 as losses of 670 billion won turned into profits of 1.96 trillion won, which comprised 44% of Samsung's operating profit in the January-March period. The company is showing momentum as the world's largest producer of flat screen televisions, DRAM and NAND flash memory chips, and is the world's second largest vendor of mobile phones.