Samsung sells 500 handsets per minute
Seoul Jan 7: Samsung Electronics, the world leader in mobiles and memory chips, sells close to 500 handsets every minute as demand picked up for the flat screens it makes for mobile devices, including those for rival Apple Inc products.
That run of five straight record quarters may end in January-March on weak seasonal demand, though a strong pipeline of smartphones - the South Korean group's biggest earner - and improving chip prices have eased concerns that earnings growth could slow this year, powering Samsung shares to record levels.
"Guidance is unlikely to disappoint given new product launches and a further upturn in cyclical parts of the business," said Morgan Stanley analyst Shawn Kim. "Smartphone momentum has not decelerated, despite Apple's new iPhone, and the business continues to be driven by its flagship products.
"This time, it's the Galaxy Note II ... with the upside in unit shipments mainly from the U.S. We expect strong momentum to continue in the first quarter."
Lastupdate on : Mon, 7 Jan 2013 21:30:00 Makkah time
Lastupdate on : Mon, 7 Jan 2013 18:30:00 GMT
Lastupdate on : Tue, 8 Jan 2013 00:00:00 IST
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