SEOUL: Samsung's quarterly profit surged to a record high as sales of semiconductors, flat panels and TVs climbed, but the electronics giant warned that intensifying competition in areas like mobile phones could dent earnings in coming quarters.
The world's largest maker of computer memory chips, flat screen TVs and liquid crystal displays booked net profit of 4.28 trillion won, or US$3.6 billion, in the second quarter ended June 30, it said yesterday in a regulatory filing. That was up 83 per cent from 2.33 trillion won profit a year earlier.
But Samsung's head of investor relations Robert Yi warned of possible difficulties for the South Korean company in continuing to rack up the kinds of profits it enjoyed in the second quarter.
"With intensified competition throughout the digital media and mobile industries going forward, it may become a challenge to maintain current.....
ESPOO, Finland, July 28, 2010 /PRNewswire-FirstCall/ -- KONE, an
innovative leader in the elevator and escalator industry, has become the very
first company in its industry to reach the A class energy rating from the VDI
4707 classification rating for its KONE MonoSpace(R) elevators*. The A clas
SINGAPORE: Apple's iPhone will likely dominate the high-end smartphone market in the next five years but faces strong competition from handsets using Google's Android platform, a research firm said yesterday.
By 2015, total mobile application downloads in the Asia-Pacific are forecast to reach 5.30 billion, of which 597.15 million, or about 11 per cent, will be for the iPhone, technology industry consultancy Ovum said.
Downloads of iPhone applications are estimated at US$62.16 million (US$1 = RM3.19) in 2010, Ovum said in an analysis released four days before the launch of the new-generation iPhone 4 in another 17 countries and cities worldwide on Friday.
The iPhone 4 is expected "to face much stiffer competition than its predecessors", Ovum principal analyst Adam Leach said in a statement.
"The rise of Google Android over the
By Joann S. Lublin and Niraj Sheth, Reporters, The Wall Street Journal
Mobile phone maker Nokia Corp. (NOK) has launched a search for a new chief executive, people familiar with the situation said Monday.
The move comes as the current chief executive, Olli-Pekka Kallasvuo, struggles to find traction for the company in the market for high-end smartphones.
While Nokia continues to sell more cellphones than any other manufacturer, it has failed to keep up with advances by such rivals as Apple Inc. (AAPL) and makers of smartphones running Google Inc. (GOOG) operating software.
The Espoo, Finland, company’s failure to get back in the race
Finnish national grid operator Fingrid said that the European commission had granted 100 million Euro in EU aid to Estlink 2 a planned second undersea electricity link between Finland and Estonia News room Finland reported. Fingrid added the commission had taken the decision previous week. The total cost of the project will...
Finlands Alma Media warned its second-quarter operating profit would fall slightly below the year-ago figure of about 12 million News room Finland reported. Reasons behind this are weaker than estimated growth in net sales and the aggregate cost development the statement added. Alma had said in April that its second-quarter...
ESPOO, Finland, July 15, 2010 /PRNewswire-FirstCall/ -- Nokia (NYSE:NOK)
will publish its second quarter 2010 results on Thursday, July 22, 2010 at
approximately 1 pm Finnish time (CET+1). The press release will be available
on the Nokia website immediately after publication.
Nokia's analys
NEWYORK, July 13 /PRNewswire-FirstCall/ -- General Maritime Corporation (NYSE: GMR) announced today that it has amended its $750 million revolving credit facility (the "Credit Facility"), dated as of October 20, 2008.
Under the terms of the amended Credit Facility, led by Nordea Bank Finland
LISBON: Europe's debt crisis flared anew yesterday as Portugal suffered a cut to its credit rating and European finance ministers battled to dispel fears about the health of the banking sector.
Greece returned to the international debt markets for the first time since securing an EU-IMF bailout in May and the French government approved a draft pension reform plan that would lift the retirement age by two years.
The euro hit a one-week low against the US currency, falling to US$1.2533 after international ratings agency Moody's Investor Services cut its rating on Portugal's government debt by two notches.
But the single currency later rebounded, rising to US$1.2626 as investors deemed the Greek bond issue to have been a success, as the yield - or interest rate.....
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