Associated Press
Samsung 2009 net profit rises 75 percent
01.28.10, 08:15 PM EST
Associated Press
SEOUL, South Korea -- Samsung Electronics Co. says its 2009 net profit jumped 75 percent as sales rose amid higher prices for memory chips and strong demand for consumer electronics.
The company said Friday in a regulatory filing that it earned 9.65 trillion won ($8.33 billion) in the 12 months through Dec. 31. It reported net profit of 5.53 trillion won the same period the year before.
Samsung said sales last year rose 23 percent to 89.77 trillion won from 72.95 trillion won a year earlier.
The Suwon, South Korea-based company is the world's largest manufacturer of computer memory chips, flat screen televisions and liquid crystal displays. It ranks No. 2 in mobile phones behind Finland's Nokia Corp. ( NOK - news - people )
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