Samsung profit tops $8 billion
Tuesday, February 2nd, 2010Seoul: South Korean giant Samsung Electronics on Friday said its annual earnings rocketed last year to more than $8 billion thanks to post crisis demand for flat-screen TVs and higher chip prices. South Korea’s biggest company, which is competing with Hewlett-Packard (HP) for bragging rights as the world’s biggest technology firm, said its profit and sales both jumped as the consumer market perked up. “We see this positive growth and performance flowing on into 2010 as the global economy continues to stabilise,” said Samsung Vice President Robert Yi. Compared to 2008, net profit surged 75% last year to 9.65 trillion won (8.3 billion) owing to higher memory chip prices and the stronger demand.
Microsoft profit surges 60%
New York: Bolstered by an exceptional demand for its new operating system Windows 7, software major Microsoft’s profit soared by 60% to $6.66 billion in the last three months of 2009. Microsoft raked in record revenues of $19.02 billion for the second quarter ended December 31, 2009. The amount represents a jump of 14% as compared to the same period a year ago. “Exceptional demand for Windows 7 led to the positive top-line growth for the company,” Microsoft’s Chief Financial Officer Peter Klein said in a statement on Thursday.
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