SEOUL, Aug. 13 (Korea Bizwire) — Starbucks Korea reported a 28 percent on-year jump in its operating profit in the first half of the year amid rising appetite for premium coffee, discount store chain E-Mart said Tuesday. From January to June, the U.S. coffee giant posted an operating profit of 74.7 billion won (US$61 million) [...]
SEOUL, Aug. 9 (Korea Bizwire) — E-Mart Inc., South Korea’s leading discount chain operator, swung to the red in the second quarter of the year for the first time in its history in the face of growing competition from online shopping rivals and e-commerce giants. Net losses reached 26.6 billion won (US$24.7 million) in the [...]
SEOUL, Aug. 6 (Korea Bizwire) — Samsung Electronics Co. saw its share in China’s smartphone market fall back below 1 percent in the second quarter as Chinese consumers bought more domestic brands, industry data showed Tuesday. Samsung Electronics shipped 700,000 smartphones to China in the April-June period, accounting for a mere 0.7 percent of the [...]
SEOUL, Aug. 2 (Korea Bizwire) — SK Telecom Co. said Friday its operating profit fell due to increased spending for 5G service marketing and infrastructure buildup. Its operating earnings came to 322.8 billion won (US$270.7 million) in the April-June period, a 6.9-percent fall from a year ago, the nation’s leading mobile carrier said in a [...]
SEOUL, Aug. 1 (Korea Bizwire) — The popularity of traditional cigarettes is waning, as e-cigarettes have seen a significant boost in sales this year. The Ministry of Economy and Finance reported that cigarette sales reached 1.67 billion packs between January and June this year, which was a 0.6 percent decrease from last year. Among them, [...]
SEOUL, Jul. 31 (Korea Bizwire) — Samsung Electronics Co. said Wednesday its second-quarter net profit more than halved from a year earlier on weak chip prices and tepid smartphone sales, warning Japan’s export curbs cloud its business outlook. The net profit for the world’s largest chip and smartphone maker came to 5.18 trillion won (US$4.4 [...]
SEOUL, Jul. 28 (Korea Bizwire) — The combined operating profit of South Korean firms listed on the main and secondary bourses nose-dived 37 percent on-year in the first half of 2019, data showed Sunday, due mainly to the sluggish global semiconductor market. The operating profit of 125 listed firms that announced their first-half performances Friday [...]
SEOUL, Jul. 25 (Korea Bizwire) — SK hynix Inc. on Thursday reported dismal second-quarter earnings on lower memory chip prices, saying it will cut output to respond to challenging market conditions and uncertainties from trade disputes between South Korea and Japan. Net profit for the world’s No. 2 memory chip maker came to 537 billion [...]
SEOUL, Jul. 24 (Korea Bizwire) — South Korea’s telecom operators are expected to have posted downbeat earnings in the second quarter despite robust sales due to their cutthroat competition to attract 5G subscribers, analysts said Wednesday. The combined sales of the three carriers — SK Telecom Co., KT Corp. and LG Uplus Corp. — are [...]
SEOUL, Jul. 23 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said Tuesday that its second-quarter net profit increased mainly due to the robust performance of its affiliates. Net profit reached 681.4 billion won (US$577 million) in the April-June period on a consolidated basis, up 17 percent from a profit of 580 billion won a [...]