Samsung reports 50% jump in Q4 operating profit

By Park Sae-jin Posted : January 24, 2017, 10:38 Updated : January 24, 2017, 10:38

[Courtesy of Samsung Electronics]


Samsung Electronics reported a 50 percent jump in its operating profit for the fourth quarter of last year, helped by rising prices of microchips and display panels.

Fourth-quarter operating profit soared to 9.2 trillion won (7.89 billion US dollars) from 6.14 trillion won a year earlier. Sales increased 0.03 percent on year to 53.3 trillion won.

The fourth-quarter profit was higher than predicted by experts as Samsung lost some $5.3 billion during the fourth quarter due to a debacle caused by the global recall of Galaxy Note 7.

Samsung said it benefitted from good performances in its display and chip businesses as well as a strong US dollar. Samsung's semiconductor division posted an operating profit of 4.95 trillion on sales of 14.86 trillion won.

For all of 2016, Samsung's operating profit rose 10.7 percent on year to 29.2 trillion won. Sales stood at 201.87 trillion won, compared to 200.65 trillion won a year ago.
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