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Samsung Electronics Co. predicted Thursday an operating profit of up to $3.44 billion for the fourth quarter of 2009 as the world’s top TV seller roars back after racking up its first ever loss a year earlier. The Suwon, South Korea-based corporation expects consolidated operating profit of between 3.5 trillion won and 3.9 trillion won ($3.44 billion) for the three months ended Dec. 31, according to a statement. Samsung, the world’s largest manufacturer of flat screen televisions, computer memory chips and liquid crystal displays, reported a consolidated operating loss of 740 billion won in the same period last year. The loss came amid a breakdown in consumer demand amid the global economic slump. Samsung provided no reasons for last quarter’s performance and planned to elaborate when it officially releases its earnings statement sometime at the end of this month, said spokeswoman Lee Soo-jeong. Lee Min-hee, an analyst at Dongbu Securities in Seoul, said Samsung has been benefiting from strong performance in flat screen TVs, memory chips and liquid crystal displays. “Samsung’s business has sharply turned around from the second quarter last year,” he said as the company has used weakness in the South Korean won — which makes it products more competitive against Japanese rivals — and aggressive marketing to increase market share. The company, however, faces risks in 2010 in the form of a strengthening won and concerns about how aggressively consumers in the United States and Europe will spend amid lingering high unemployment, he said. Samsung, which is the world’s No. 2 maker of mobile phone handsets behind Finland’s Nokia Corp., began issuing earnings estimates for the second quarter of 2009, saying they would help minimize market speculation over its performance and increase corporate transparency. The estimates include the performance of its overseas and domestic subsidiaries excluding financial business, Lee said. The company’s highest quarterly consolidated operating…
Read more here: Samsung Expects Strong Fourth-Quarter Profit
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