Demand for Samsung TVs increase by over 10 percent in Third Quarter of 2011

Samsung Electronics, a global leader in digital media and digital convergence technologies, announced that the demand of Samsung TVs increased by more than 10% quarter-on-quarter with a solid growth of over 20% in emerging markets. Samsung Digital Media & Appliances (DMA) division posted operating profits of USD 214.56 million this quarter and sales of USD 1.27 billion. 

Samsung announced revenues of USD 36.90 billion on a consolidated basis for the third quarter ended September 30, 2011, a three-percent increase year-on-year. For the quarter, the company posted consolidated net income of USD 3.08 billion, representing a 23-percent decrease year-on-year. Consolidated operating profit for the quarter was USD 3.80 billion. In its earnings guidance disclosed on October 7, Samsung estimated third-quarter consolidated revenues would reach approximately USD 36.65 billion with an operating profit of USD 3.75 billion. 

“Since the launch of Samsung’s Smart TV range, we have sold over two million units and continue to bring in strong numbers in every quarter.  With peak season demand in the fourth quarter expected to increase 30 percent, Samsung aims to outperform the market and enhance profitability through marketing and sales expansion of premium products such as LED TVs and Smart TVs supported by customized TV applications,” said Vinod Nair, General Manager of CTV at Samsung Gulf Electronics. 

In the Gulf region, Samsung Smart TVs currently hold 45 percent market share. Samsung’s dominant position in the region is spurred by the demand of digital convergent products; consumer adaptability towards new technology; and locally relevant content and applications found in Samsung’s Smart Hub.  The smart features that constitute the Smart Hub include: AllShare, Search All, Samsung Apps, Second TV, Web Browser and Social TV. 

“In the Gulf market we recorded a 20 percent increase year-on-year in digital media and appliances’ sales for the third quarter of 2011,” he added. 

Globally, Samsung’s shipments of flat panel TVs outstripped market growth of more than 10 percent on-quarter, which was led by demand in emerging markets. Profitability also improved quarter-on-quarter as LED TV sales passed 50 percent of all Samsung LCD TVs sold for the quarter, reflecting the growing acceptance of the new technology.