Samsung SDI swings to net profit for 2008

SEOUL, Jan 20 (Reuters) - South Korea's Samsung SDI (006400.KS: Quote, Profile, Research) said on Tuesday it swung to a net profit of 38.9 billion won ($28.28 million) for 2008, from a loss of 592 billion won in 2007.

Samsung SDI, which sells rechargeable batteries and plasma screens, also posted sales of 3.73 trillion won for 2008, down slightly from 3.79 trillion in 2007.

The company is recovering from a tough series of quarterly losses thanks to strong demand for batteries and a restructuring plan that has seen Samsung Electronics Co Ltd (005930.KS: Quote, Profile, Research) take over management of its plasma panel business.

Under the restructuring, Samsung SDI also spun off its mobile display unit. ($1=1375.4 Won) (Reporting by Rhee So-eui and Marie-France Han; editing by Jonathan Hopfner)