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 energ 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 with stronger demand for high-margin cylindrical batteries.
Samsung SDI swings to Q1 profit on ESS battery growth
