SEOUL -- Samsung Electronics Co. Tuesday reported net earnings of $5 billion (6.4 trillion won) in 2000, double the $2.47 billion from the previous year. The Korean giant said sales reached $26.6 billion (34.2 trillion won) for the year, up 31 percent from $20,3 billion the previous year.
Officials also said Samsung Electronics will increase its capital investment to $6 billion in the current fiscal year. Previously Y. W. Lee, president of the Samsung Semiconductor group, told EBN that chip capex was slated about $5 billion this year.
Samsung said it will be able to finance most of the investment out of operating funds, based on its profitability.
The firm attributed its sharp jump in earnings to favorable DRAM prices for the first half of the year, and continued strong market in SRAMs, where Samsung is the global leader. Officials said the income increases, however, slowed down in the fourth quarter, when DRAM prices fell sharply and the flat panel display market softened.
