Samsung SDI raises quarterly sales

By Kim Yoo-chul

Samsung SDI, the battery-making affiliate of Samsung Group, said Monday that it posted a slight increase in sales during the last three months of 2014 thanks to marginal improvements of its battery business.

It said sales came in at 1.91 trillion won, up 1 percent, quarter-on-quarter, while operating profit amounted to 37.2 billion won, up 14.4 percent.

But net losses were increased to 129 billion won from 12.9 billion won the previous quarter due to increased costs from the July merger with a part of its affiliate, the company said.

Samsung SDI didn't report its 2013 results as this is the first time for the company to announce its yearly performance, including performances of Cheil Industries, which was acquired by the battery unit.

“Samsung SDI included the monetary effects of previous decision to drop plasma panel business and cut in share price in Samsung Engineering as it secured some portions of the engineering unit,” said the statement.

Spokesman Seo Hae-su said its performance this year will be much better as it battery business will see improvement helped by a gradual recovery of Samsung Electronics' mobile business and more calls from its automotive clients for car batteries.

SDI supplies small-sized batteries to Samsung Electronics' all mobile devices from handsets, notebook to tablets. It also sells large-sized battery packs to BMW, Audi and energy storage solutions.