Samsung Electronics Announces Huge Fourth Quarter Operating Profits

Samsung Electronics Announces Huge Fourth Quarter Operating Profits. The Korean company has announced some new statistics about the earning of 2017. According to the company, there is KRW 65.98 trillion in consolidated revenue and KRW 15.15 trillion in operating profit for the fourth quarter of 2017.

Samsung Electronics Announces Huge Fourth Quarter Operating Profits

Also Read: Samsung will Provide Olympians with a Special, Limited Edition Galaxy Note 8

Overall, the company reported full-year revenue of KRW 239.58 trillion and full-year operating profit of KRW 53.65 trillion. Fourth-quarter profits were driven by the company’s components business. The major contribution is coming from the Memory business that manufactures DRAM and NAND.

However, the company broke its record for a single quarter by posting profits of around $14.24 billion. The company has broke its previous quarter record, when they recorded an operating profit of around $13 billion.

The revenue was up 24 percent from a year earlier, while the operating profit jumped 64.3 percent. Both the revenue and the operating were the quarterly highs in Samsung’s history. Net income in the fourth quarter amounted to 12.26 trillion won.

Samsung’s chip-making business led the record-high earnings in the December quarter. The semiconductor division logged 10.9 trillion won (10.17 billion U.S. dollars) of operating profit on revenue of 21.11 trillion won (19.69 billion U.S. dollars) in the fourth quarter.

Now the company is planning to launch Samsung Galaxy S9 and foldable Galaxy X. So, we can assume that soon the company will see more profit.

Also Check: Samsung Brought ‘Almost Finished’ Foldable Galaxy X to CES

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Onsa Mustafa

Onsa is a Software Engineer and a tech blogger who focuses on providing the latest information regarding the innovations happening in the IT world. She likes reading, photography, travelling and exploring nature.

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