collected by :Molly Tony
That helped Samsung’s mobile business rebound from the previous quarter when the Note 7 debacle wiped out its mobile profit.
Continue Reading BelowThe South Korean company said it posted 7.1 trillion won ($6.1 billion) in net income during the October-December period, compared with 3.2 trillion won a year earlier.
Continue Reading Below ADVERTISEMENTThe biggest force behind Samsung’s forecast-beating earnings was its semiconductor businesses, which contributed more than half of the company’s quarterly operating profit.
Operating profit surged 50 percent over a year earlier to 9.2 trillion won ($7.9 billion), in line with Samsung’s guidance earlier this month.
Sales stayed flat at 53.3 trillion won ($45.6 billion), the company said in a regulatory filing.
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Samsung’s earnings more than double on record chip profits
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Samsung’s chip business posted record earnings in Q4 2016
Samsung’s mobile business didn’t do that badly, as well, due to the solid sales of the Galaxy S7 and S7 Edge and the company’s non-flagship devices.
The company has big plans for its mobile division in 2017 despite the expected slump in the global smartphone market.
samsung will have to deal with less stellar earnings before its new flagships drop, though.
The company also attributes its strong quarter to big OLED and large-size UHD panel shipments.
It expects its earnings to decline this quarter due to growing marketing expenses for mobile and slow TV sales, since people are still recovering from holiday season shopping.