SEOUL, Korea -- In the first quarter of 2003 Samsung Electronics made 1.35 trillion won (about $1.1 billion) in operating profit and 1.1 trillion won (about $910 million) in net income on sales of 9.6 trillion won (about $8 billion).
Sales were 10.5 percent down quarter on quarter, while net income was also 10.5 percent lower than the last quarter of 2002.
The company put this down to falling average selling prices (ASPs) for memories sold by its chip division and the sluggish information technology industry at home and abroad.
However, Samsung was able to maintain margins on its goods and said the outlook for 2003 is bright.
First quarter performance highlights include a 19 percent sales growth for TFT-LCDs, 17 percent higher operating income from sales of logic chips, an increase of 4.8 percent in mobile phone sales, and a 20 percent higher operating margin for the telecommunication network division, the company said.