Samsung posted strong earnings this quarter highlighting that the recessions is coming to an end, reports Affinity Group Solutions from Asia.
Samsung who are the largest maker of flat screens and memory chips posted strong earnings, which saw its share price, increase by 4 percent.
Over the last 19 months technology companies have struggled in the downturn so to see Samsung post strong profits is a relief to the industry and a clear sign that the environment has improved.
Affinity Group Solutions analysts said that the profits posting shows how strong Samsung’s position is in this sector, as it looks to stay the leader in the industry. Overall the whole of Samsung has performed well from TV’s, LCD’s, mobile phones and semiconductors all improved in sales.
Even for Affinity Group Solutions analysts the recovery was much steeper that was anticipated and this was reflected in Samsungs predictions last quarter when they forecast a 2 percent increase. Even when it was 4 percent it was still greeted with caution, as many analysts still believe we are not out of the woods yet.
Affinity Group Solutions are bullish about the future of the tech industry over the long-term, but these results are certainly welcome after the hard-hit industry tries to recover. Affinity Group Solutions expect other leading brands to post positive results later this quarter showing an improvement on the whole of the IT industry.
