Japanese and Korean home appliance giant, the first decline in profits attacked
Products exported to Europe as the proportion of large, coupled with exchange rate volatility in the market limelight strong Japan and South Korea
Home Appliances
Today, corporate giants earlier than the Chinese experience in the global financial turmoil. South Korean home appliance giant
Samsung
E yesterday (October 25) released third quarter results show net profit fell Sichengyishang year, but a few days ago
Sony
,
LG
Release of third quarter profit reports are also falling sharply.
Samsung latest disclosure report shows that in the third quarter, due to the impact of the global economy slowing, the company third-quarter net profit of 2.19 trillion won a year earlier fell to 1.22 trillion won, down by as much as 44 %. Samsung's chip business in which current profit fell more than 74%, liquid crystal display has a 44% drop in net profit. Dragged down by the performance last week, Samsung Electronics shares fell more than 20% of the total. Another South Korean home appliance giant LG Electronics has released third quarter earnings also show that, due to shrinking market demand and the depreciation of their currencies, and net profit of only 24.9 billion won (about 24 million U.S. dollars), and 92.7% decrease compared to same period last year . Filing shows, LG Electronics third-quarter operating profit actually have 265% over last year's growth, as continued depreciation of the won-dollar exchange rate caused the company to increase foreign debt, coupled with weakening global economy reduced demand for electronics products, making LG Electronics A sharp drop in profit occur.
The same with the two of Korean, Japanese consumer electronics giant Sony also is experiencing a financial crisis. This week five, Sony's share price in the Tokyo Stock Exchange fell again and hit a 13-year low. This is mainly because a few days ago Sony net profit this fiscal year the company expected a few months ago by a sudden drop 240 billion yen to 150 billion yen, reduced by as much as 59%. Sony has just released third quarter results report shows the financial turmoil, its
Flat Panel TV
And other electronic products sold in the U.S. and Europe fell sharply, led directly to the company profit expectations have fallen significantly. It is reported that more than half of Sony's sales came from North America and Europe. In addition, since the yen against the euro this year and the dollar has appreciated by 31%, respectively and 14%, resulting in export performance of Sony converted a substantial decline in the amount of yen, which is Sony's lower profit this fiscal year, one of the reasons.
Insiders pointed out that in the face of global financial turmoil, Japanese and Korean home appliance giant, will precede the reason why Chinese counterparts, "chills", mainly in the structure of its exports greater proportion of European and American markets, but exactly where is this round of financial storm-hit areas. To plate
TV
Example, the United States and China is the world's two largest markets, with the decline of the U.S. market, China is bound to become a global giant in the battleground. Chinese home appliance brand, therefore could play a grab share of local advantages, will determine whether China's household electrical appliance enterprises will face the "winter" key.
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