SHOOT: Clever company. I actually lost my phone yesterday (left it in the bank) and consider myself fortunate that the bank handed it back to me this morning. It's a Samsung phone and I'm quite attached to it.
SEOUL — Samsung Electronics held off calling a recovery in its memory chip and flat panel businesses, though its mobile phone margins have overtaken those of market leader Nokia. The world’s biggest maker of LCD panels and memory chips used in computers reported a 72% drop in quarterly profit, but a rebound in phone margins helped beat forecasts that had been sharply lowered amid a steep downturn in the chip industry. “We believe it is still premature to expect a global economy, as well as consumer demand, recovery in the near term,” said Robert Yi, head of Samsung’s investor relations, adding a sharp rebound in memory chip or LCD markets was unlikely. Samsung said its telecoms margins surged to 12% from 2% in the previous quarter, beating market leader Nokia’s 10,4% margin, and it aimed to outperform a shrinking market by focusing on high-end phones. |
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