Samsung Group, South Korea’s No. 1 conglomerate, is growing more dependent on its electronics arm for its operating profit, latest market data showed Tuesday.
Samsung Electronics Co., the flagship unit of the business group, provided 92.3 percent of the combined operating profit by the conglomerates’ 17 listed affiliates in 2013, according to market researcher FnGuide.
Samsung Electronics accounted for around 60 percent of the group’s yearly operating profit in 2007-10. The number spiked to 79 percent in 2012, with the rising popularity of its smartphone lineup around the globe.
The group’s other affiliates posted far weaker earnings in 2013 amid prolonged slump in the global economy, with only three other arms — Samsung Electro-Mechanics Co., Cheil Worldwide Inc. and Credu Co. — logging on-year increase in operating profits.
Samsung’s No. 2 player Samsung Heavy Industries Co. contributed 2.3 percent to the combined operating profit, a whopping drop from the 7 percent in 2008. Samsung Fire
