Samsung sees record 2009 sales growth

Rebound in LCD screen and semi-conductor sales helps to boost profit by 90 per cent

Samsung reports positive sales

Electronics manufacturer Samsung reported positive Q4 results today, reflecting a rebound in microchip sales as well as robust sales of high-end LCD TVs.

The company said it expects to post an operating profit of $9.8bn for the whole of 2009, up 90 per cent year on year. And sales for 2009 are expected to show a rise of 15 per cent on last year to a record $121.5bn.

Samsung is the world’s biggest maker of LCD panels and TV sets, and these products retained a good price in 2009 owing to a shortage of raw materials.

The company says it will increase its capital spend in 2010, with projections including spend of $4.9bn on memory chip production and about $2.7bn on liquid crystal displays production. This compares with last year’s spend of more than $6.2bn, including $3.6bn on semiconductors and $1.8bn on LCDs.