Samsung Electronics Co. today reported third-quarter net earnings of $1.5 billion (1.7 trillion won), a 145% increase from the same period a year ago and a record quarterly income.
Net profit for the nine months ended Sept. 30 reached $4.4 billion (4.9 trillion won), up 36% from the same period of 1999.
The Korean electronics chaebol reported third quarter sales of $8 billion, up 139% over the similar quarter a year ago. Nine-month sales totaled $22.6 billion.
Samsung attributed the strong earnings and profit growth to increased demand for its major semiconductor products: DRAMs, SRAMs and flash. The company said semiconductors and flat-panel displays had nine-month sales of $8.6 billion, or 38% of total revenue. The computer and communications sector had nine-month sales of $5 billion or 22%, digital media $6.5 billion and household appliances of $2 billion.
Officials said Samsung's share of the global SRAM market, where the company claims world lead, rose to 25%.
Separately, investment analysts in Korea said Samsung will have doubled its production of 128-megabit SDRAMs in the second half to 20 million units a month by the end of the year. Output of next-generation 256-Mbit SDRAMs will go up 40% to 1.4 million a month over the same period. The company is expected to reduce 64-Mbit SDRAM production to about 20 million units a month from 26 million monthly by year's end.