SEOUL, KOREA - Samsung SDI reported an operating loss in the first quarter of this year, first in four years since the first quarter of 2009. The disappointing results of Samsung SDI were caused by the low demand seasonal effect, its investment in electric car battery business and a decline in demand for plasma display panels.
Samsung SDI announced on April 26 that it recorded sales of 1.2 trillion won and an operating loss of 33.3 billion won for the first quarter of this year. Year-on-year, sales fell by 12.2 percent.
A company official said, "We reported an operating loss in the first quarter, a season that has traditionally been a low-demand period for IT devices. Other negative factors include a decline in display panel demand plus investments in electric car battery business."
By business segment, the small rechargeable cell business created sales of 772 billion won, up 4 percent from a year ago but down 7 percent from a quarter ago. The plasma display business yielded sales of 368 billion won by selling 1.5 million units, down 12 percent from a year ago and 22 percent compared to a quarter ago.