Samsung SDI Swings to Q1 Profit Driven by ESS Battery Growth
Samsung SDI has reported a swing to profit in the first quarter, largely attributed to the strong growth in its Energy Storage System (ESS) battery segment. This marks a positive financial turnaround for the company.
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Samsung SDI swings to Q1 profit on ESS battery growth
Samsung SDI Co., a major South Korean battery manufacturer, said Tuesday it swung to a profit in the first quarter from a year earlier, driven by expanded energy storage system sales. In the three months that ended in March, the company shifted to a net profit of 56.1 billion won ($38.1 million) from a net loss of 216 billion won in the same period last year, it said in a regulatory filing. The company attributed the turnaround to increased US-based production and sales of ESS batteries, along w
By The Korea Herald
Read full article →(LEAD) Samsung SDI swings to Q1 profit on ESS battery growth - Yonhap News Agency
(LEAD) Samsung SDI swings to Q1 profit on ESS battery growth Yonhap News Agency
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