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Samsung is back in the money, but a whole lot less than last year

Tim Stevens

Hot on the heels of Apple announcing it's officially ripping this recession a new one and making more money than ever (hooray!), Samsung has released its financials for the first quarter and things are a little more, erm, glum. (Boo?) The company has at least partially recovered from its first ever loss in the fourth quarter of last year, making a tidy $459 million so far in 2009. That's the good news. The bad news, however, is that $459 million is 72 percent less than the company pocketed in the same quarter in 2008. But, profit is profit, and a 36 percent increase in revenue from the company's cellphone division is also promising -- especially given Nokia's recent bad news. Must be thanks to all those Omnia fanboys and girls.

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