Samsung First Quarter 2007 Profits up

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Samsung shipped nearly 35 million handsets in the first quarter, posting telecom division profits—largely derived from handset sales—of $646 million. Both numbers were up nearly 30 percent over the year-ago quarter. Handset-related revenue, however, at $4.6 billion, was down 2 percent over the year-ago quarter.

The handset division was something of a bright spot, set against an overall decline in profits due to flagging sales in Samsung’s semiconductor business, which is the company’s largest division.

The company cited sales of its Ultra Edition handsets and new products in China and other emerging markets for its cellphone gains.

More to come.

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