Samsung Electronics Co. Ltd. (Seoul, Korea) announced its financial results for the third quarter of 2005 (all amounts are in Korean won ). The company recorded net income of KRW1.88 trillion and KRW14.54 trillion on sales. Operating income was KRW2.13 trillion, up 28.8 percent from the previous quarter. Net profit in the third-quarter increased 11 percent compared with the previous quarter, while sales jumped seven percent compared to the previous quarter. Operating profit surged 29 percent in the third quarter from the previous quarter. Sales and net income of the semiconductor business increased to KRW4.59 trillion and KRW1.35 trillion, respectively.
"Despite the challenging business environment and depressed market conditions, sales of our mainstay products remained robust, demonstrating the inherent strength and competitiveness of Samsung's business model," said Samsung Investor Relations Senior Vice President Woosik Chu. "Samsung Electronics anticipates positive fourth-quarter results as demand for IT products tend to surge in the year end."