SEOUL, Korea—Samsung Electronics Co. Ltd. reported $7.6 billion in total sales for the first quarter and $1.46 billion in profits, which marked a record 764-percent increase from the fourth quarter.
Samsung reported $948.4 million in profits for first-quarter 2001.
The company attributed the strong results to several factors, including the bottoming out of memory chip prices last year and the consequent rebound since then. The company plans to step up spending on new semiconductor and liquid crystal display monitor production facilities in the coming months.
Samsung also continued its rapid growth in handset sales. The company sold 9.5 million units in the first quarter and expects to sell 37 million units this year.
Sales for the telecommunications sector totaled $2.25 billion, or 29.6 percent, of total sales.
