Samsung TV Sales Hits A New Record

Today, South Korea based world’s top TV brand, Samsung Electronics Co said that the sales of the Samsung television in November hit a new record 5.7 million units, which was helped by the strong sales in United States during the long weekend of Thanksgiving.

The world’s biggest IT maker said in a statement that November sales grew 14% from the 5 million units sold in the month of October and the company is certain to keep its top global title for all this year.

US media reported that during the Black Friday weekend, US people spent $7.4 billion more in shopping stores as compared to 2010.

The south Korean firm said that it was confident of meeting its 2011 flat-screen TV sales target of 45 million units, the firm added that the solid results come as global TV makers are reforming their businesses and outsourcing production as ruthless competition and weak demand squeeze margins.

Japanese multinational conglomerate Sony Corporation, which struggles for the standing in second position with South Korea’s LG Electronics Inc, warned in October of a fourth straight year of loses, with its business of television alone set to lose more than $2 billion on falling demand and a surging Japanese currency.

Media reported that the Philips Electronics, a Dutch multinational consumer electronics firm has also agreed to transfer its loss making in television unit to a joint venture with Hong Kong display solutions provider TPV Technology Ltd.

South Korean company Samsung said that its TV unit reported $213 million operating profit in this year’s third quarter, helped by increased shipments and sales of high-end models like Internet TVs and LED-backlit flat-screens.

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Posted by TechWeek on Thursday, December 8th, 2011. Filed under Technology. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.