Samsung Handset Sales Up, But Expects Slow Down

Citing the worldwide economic slowdown and increased competition, Samsung said it anticipated tough business months ahead. By W. David Gardner InformationWeek Samsung Electronics on Friday reported second quarter profits jumped 51% driven in large part by a surge in mobile phone shipments, but the firm's stock dropped on concerns for the remainder of the year. The diversified company posted earnings of $2.12 billion on sales of $18 billion. Samsung continued to record strong results in its handset operation as it sold 45.7 million handsets in the quarter -- 22% higher than the same period in the previous year. The company has been capturing more market share in recent quarters, primarily at the expense of Motorola. Samsung is now firmly in second place behind Nokia in worldwide shipments of handsets. Citing the worldwide... [read full story]