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October 29, 2015

Tech financials in brief: Sony, Samsung, LG, Nokia & Panasonic

List: A consistent theme is decline or flagging growth in mobile businesses.

By Alexander Sword

CBR rounds up the big financial results announced in the tech sector.

1. Sony

Sony saw revenues of ¥1.892 trillion, roughly $15.773 billion. The yen figure represents a small fall of 0.5 percent from ¥1.9015 trillion.

The company’s operating profit was at ¥88 billion, or around $733 million.

Growth was seen in the image sensor business, with the devices segment up 7.4 percent year-on-year. Sales in the mobile communications segment, including smartphones, decreased 15.2 percent year-on-year.

2. Samsung

Samsung posted revenue of KRW 51.68 trillion, a year-on-year increase of 8.9 percent and a quarter-on-quarter increase of 6 percent. Operating profit was KRW 7.39 trillion.

The Semiconductor Business and the Display Panel segment both saw growth, with 29.6 percent growth in semiconductors and 19.8 percent in display panels.

In its mobile business, increased sales pushed up revenues to KRW 26.61 trillion, but the price cuts in the S6 units meant less profits were realised.

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3. LG

LG saw its revenue fall 4.7 percent year-on-year to KRW 14.03 trillion. The operating profit fell from KRW 465 billion to 294 billion, a fall of 37 percent.

The biggest drop was in LG’s mobile communications business, which saw sales fall 21 percent year-on-year to KRW 3.3774 trillion.

4. Nokia

Nokia saw sales in Q3 of €3 billion, a 2 percent fall year-on-year. The company’s profit rose to €475 million, an increase of 4 percent.

The networking division saw a 2 percent year-on-year sales decrease, while Nokia Technologies saw 7 percent year-on-year sales growth.

Nokia announced a planned EUR 7 billion programme, consisting of approximately EUR 4 billion in shareholder distributions and approximately EUR 3 billion of de-leveraging.

5. Panasonic

Panasonic saw its revenues rise slightly to ¥3.7604 trillion. This was a year-on-year rise of 1 percent. Profit rose 13 percent to ¥200.5 billion.

The appliances businesses and eco solutions fell 2 percent to ¥1.1719 trillion and ¥772.3 billion respectively. AVC networks rose 7 percent to ¥570.8 billion.

 

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