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Sinking Samsung Net Profit

Yesterday’s post was about a minor flash drive success story for market leaders, EMC. Today’s entry will highlight why execs at another superstar performer, Samsung, are reaching for their liquor bottles for different reasons.

Profits for the world’s number 2 phone producer, LCD screen manufacturer and biggest chip maker, yeah that’s right, quite a record, have dropped 6.6 percent year on year.

Imagine that, the Korean conglomerate failed miserably and only made $2.1bn PROFIT. I say off with their dumb heads. The management, however, are celebrating the fact that investors are even dumber than them. The share price rose, because, get this, investors view this is the best of the last 5 declining quarters. Go work that out. Samsung executives screwed up less badly than they did over the last 15 months, so their company ends up being worth 2.5% more, in 24 hours.

The moral seems to be, in the corporate world, you get ahead by screwing up. Therefore, I can’t wait for armaggedon / Samsung style earnings results from some of these screwed-up financial companies. The failures are bound to catapault plunging share prices of such stellar tech companies as EMC to new highs on Wall St – it’s obvious! Cheers.

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January 14, 2008 Posted by | corporate news | , , , , , | Leave a comment