Samsung Electronics Co.’s upbeat third-quarter results added to growing optimism for recovery in the wireless industry.
The company’s profit rose 7 percent to $1.57 billion dollars in contrast with $1.46 billion a year ago. Upswings in sales of handsets and chips accounted for the company’s happy report.
“The positive mild recovery of the global market was much more amplified for Samsung,” said Chu Woo Sik, head of Samsung’s investor relations team.
Samsung does not expect the momentum to flag. “In the fourth quarter, we anticipate the market climate to further improve, which will bring significant benefits to Samsung,” said Sik.
Sales leaped 15 percent to $9.6 billion from $8.3 billion in the year-ago period.
In another development, Samsung said it is demonstrating what it calls the world’s first CDMA2000 1xEV-DV system products.
“With peak speeds anticipated to be around 3.1 Mbps (megabits per second) and average data speeds targeted for the 300 to 500 Kbps (kilobits per second) range, 1xEV-DV offers an integrated voice and data solution for a wide variety of high-speed customer applications,” said Oliver Valente, vice president of technology development at Sprint, who witnessed the demonstration.
U.S. carrier Sprint PCS has said it will skip DO to launch DV in its technology migration.
