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Wed, March 29, 2023 | 22:45
Tech
Samsung operating profit falls 4.3%
삼성전자 1분기 영업익 8조4천억원…전분기 대비 1%↑
Posted : 2014-04-08 16:22
Updated : 2014-04-08 19:09
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By Kim Yoo-chul

Samsung Electronics is expected to record an operating profit of 8.4 trillion won ($7.9 billion) in the first quarter, down 4.33 percent from a year ago, as the result of slow smartphone sales growth.

That is up 1.08 percent from the previous quarter.

According to a preliminary estimate released Tuesday, the first-quarter sales reached 53 trillion won, up 0.25 percent from a year earlier.

The estimate did not provide figures for each of its business divisions. These will be made public in the last week of April.

Analysts have shown mixed reactions about the first-quarter performance.

They said that the figures are mostly in line with the market consensus of 8.4 trillion to 8.5 trillion won but raised concerns about the high dependence on smartphones.

"We recently advised our big clients to sell Samsung Electronics stocks because most profit is coming from smartphones. Other than these, we don't see any positive factors that can lift Samsung's profit," said a senior hedge fund manager based in Seoul, by telephone.

"Demand for TVs remains weak. The appliances market is heading towards an unfavorable season," he added.

According to Samsung officials, the smartphone business is estimated to have reaped 6 trillion won in operating profit during the first quarter, accounting for 70 percent of the total.

Analysts expect the company will bounce back in the latter half of this year after going through another sluggish quarter between April and June.

"At current valuations, the market is assuming the mobile business will destroy value going forward," said Mark Newman at Bernstein Research in Hong Kong, adding Samsung's memory chip business stands out as a strong performer.

According to the research firm, Samsung's display and consumer electronics results were weak due to seasonality.

"We estimate that foreign currency impact was still negative on Samsung's overall operating profit."

In a short-term strategy to boost profits, Samsung plans to promote its Galaxy S5 smartphone, which will go on sale globally from Friday.

But the Galaxy S5 made a weak start at home. Analysts are raising questions about whether Samsung's aggressive pricing plan for the latest handset will fully pay off before Apple's new mobiles will be introduced sometime in the second half of the year, officials said.

"Samsung has been consistent in putting competitive hardware specifications in flagship models. But its focus is now on pricing as budget phones are gaining popularity. That's why Samsung plans to put a super-fast 64-bit processor in its next mobile item from next year, not this year," said a Samsung official.

He said an upcoming Samsung phablet ― the Galaxy Note 4 ― will support a 32-bit processor, not a 64-bit processor.

"Looking ahead, we continue to believe that Samsung's diversity of profit streams plus strength and scale in all price tiers of smartphones helps it to continue to generate strong profits going forward," Newman said in a report to clients.



삼성전자 1분기 영업익 8조4천억원…전분기 대비 1%↑

시장 예상치에 거의 들어맞아 '무난한 성적표'
갤럭시S5 출시 효과는 2분기에 본격 반영될 듯


삼성전자가 올해 1분기에 영업이익 8조4천억원(잠정실적)을 기록했다고 8일 공시했다.

삼성전자는 2014년 1분기에 영업이익 8조4천억원을 올려 작년 4분기(8조3천100억원)보다 1.08% 늘었다.

1분기 매출액은 53조원을 기록했다. 매출액은 작년 4분기(59조2천800억원)보다 10.59% 감소했다.

전년 동기와 비교해서는 매출액은 0.25% 증가했지만 영업이익은 4.33% 감소했다. 2013년 1분기에는 매출액 52조8천700억원, 영업이익 8조7천800억원을 기록했다.

이날 공시된 삼성전자의 잠정실적은 금융정보업체 에프앤가이드가 집계한 25개 주요 증권사의 실적 추정치 평균인 8조4천589억원에 거의 들어맞는 수준이다.

증권사들의 매출액 추정 평균치는 54조6천807억원으로, 이날 잠정실적으로 발표된 매출액은 이보다는 다소 작았다.

삼성전자는 지난해 4분기 영업이익 8조3천100억원으로 직전 분기(10조1천600억원)보다 18.3%나 감소해 시장에서 '어닝쇼크' 수준이라는 평가를 받았다.

이에 반해 올해 1분기 실적은 고공행진은 아니지만 무난한 성적표라는 평가가 나온다.

영업이익률도 15.8%를 기록해 15%대를 회복했다. 작년 3분기에 17%를 넘어섰던 삼성전자 영업이익률도 4분기에는 14.1%로 급락했다.

삼성전자는 작년 3분기에 사상 처음으로 분기 영업이익 10조원 고지를 넘었고 4분기에도 10조원대를 유지할 것으로 전망됐으나 스마트폰 판매 성장세 둔화 등의 영향으로 실적이 크게 떨어졌다.

삼성전자의 영업이익은 2011년 4분기부터 2012년 4분기까지 5분기 연속 사상 최고 실적을 이어가다가 작년 1분기에 주춤했으며, 작년 2·3분기에 연속 상승세를 타다가 4분기에 다시 사상 최고실적 행진을 멈췄다.

올해 1분기에도 IT 업종의 계절적 비수기 등의 여파로 실적이 쉽게 호전되지 못할 것으로 전망됐으나 증권사 추정치 평균에 부합하는 실적을 올린 점에 비춰 주요 사업부문별로도 비교적 선방한 것으로 풀이된다.

증권사들은 IM(IT·모바일) 부문의 스마트폰 출하량이 예상보다 많아 호조를 보인 것으로 분석했다. 올해 1분기 스마트폰 출하량은 9천만대를 넘긴 것으로 추정된다.

실제로 일부 증권사들은 갤럭시S5 국내 조기 출시의 영향으로 스마트폰 부문 실적이 개선된 것으로 추정되면서 삼성전자의 실적 전망을 상향 조정했다.

업계에서는 갤럭시S5의 글로벌 출시 효과는 2분기부터 본격적으로 반영될 것으로 점쳤다. 1분기에는 이보다는 기존 스마트폰 재고 조정 등이 영향을 미친 것으로 보인다.

작년 4분기에는 IM 부문의 영업이익이 작년 3분기보다 18%(1조2천300억원)나 줄어든 5조4천700억원이었으나, 올해 1분기에는 5조8천억원대로 회복된 것으로 추정된다. 이날 공시된 잠정실적에는 사업부문별 영업이익은 집계되지 않았다.

반도체 부문도 주력인 D램과 낸드플래시의 가격 하락 폭이 비수기에도 예상보다 크지 않아 견조한 실적을 올린 것으로 관측된다. CE(소비자가전) 부문도 3천억원 이상의 영업이익을 올린 것으로 추정된다.
Emailyckim@koreatimes.co.kr Article ListMore articles by this reporter
 
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