Samsung Q2 profits down, margins suffer

Jul 15 2005 - 03:05 AM ET | Samsung
Samsung has a disappointing second quarter thanks to lower margins on two of its biggest profit centers, LCDs and mobile phones. Year-on-year Samsung saw a 47% decrease in net-profit. Here are the numbers: * Profit of $1.62 billion * Revenue of $13 billion * Mobile phone division posted margins of 12%, down from 16% in the year ago quarter. * 24.5 million mobile phones were shipped, up nearly two million units from a year ago. Samsung is the third largest mobile phone manufacturer in the world, behind Nokia and Motorola.