Samsung Electronics to transfer solar battery business to SDI

Samsung Electronics Co., the world's top memory chip maker, will unload its solar battery business to its affiliate Samsung SDI Co. for 160.8 billion won (US$147.6 million), the companies said Friday, in an apparent bid to revitalize the team's disappointing performance,The boards of the two companies each approved the plan, which calls for Samsung Electronics to hand over its solar battery workforce and equipment to Samsung SDI as of July 1, they said in separate regulatory filings. About 300 employees will be affected.The decision was made to streamline and to maintain focus on the tech titan's electronics business, which spans from memory...

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U.S. Households Spending Down on Consumer Electronics

According to a study released by the Consumer Electronics Association (CEA), the average U.S. household spent $1,179 on consumer electronics (CE) products in the past 12 months, $201 less than the year before. CEA’s “13th Annual Household CE Ownership and Market Potential Study,” conducted from January 27–31, 2011, found the average adult spent $652 on CE products in the past 12 months, down from $794 the 12 months before. Women spent, on average, $520 on CE, down $111 from last year’s study. Men reported spending $793, down $176 from the 12 months before. The average household reports owning 24 discrete CE products, down slightly from 25 devices...

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Samsung Electronics announces first quarter 2011 results

Samsung Electronics Co., Ltd. today announced revenues of $206.2m on a consolidated basis for the first quarter ended March 31, 2011, a -7% increase year-on-year. For the quarter, the company posted consolidated net income of $194.3m, representing a -30% decrease year-on-year. Consolidated operating profit for the quarter was $206.2m.In its earnings guidance disclosed on April 7, Samsung estimated first-quarter consolidated revenues would reach approximately $258.6bn with an operating profit of $20.3bn.By business, Telecom, Semiconductor and Digital Media & Appliances drove revenue growth in the quarter. The Semiconductor Business saw sales...

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