Samsung had a record-breaking 2017 thanks to its chip business

10 January, 2018, 01:59 | Author: Julian Swanson
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LG Electronics has recently revealed its earnings for Q4 2017.

The company's operating profit is estimated at 366.8 billion won ($343 million) for the October-December period.

For all of last year, Samsung predicted its operating profit would rise 83.3 percent on-year to 53.6 trillion won.

Revenue hit a new yearly high of 239.6 trillion won (224.8 billion USA dollars) in 2017, surpassing the previous high of 228.69 trillion won (214.5 billion US dollars) in 2013.

South Korean telecom giant Samsung Electronics expects to post record operating profits of $14.1 billion in the fourth quarter, it said Tuesday.

The preliminary result for Samsung's operating profit was 53.6 trillion won (50.3 billion USA dollars) in 2017, topping the previous record yearly high of 36.79 trillion won (34.5 billion US dollars) tallied in 2013. It still did not meet analysts' expectations because they had targeted a 15.9 trillion won (12.5 billion euro) profit.

In terms of sales, the company raked in 61.4 trillion won for all of 2017, marking the first time for LG to post a revenue hovering above the 60 trillion won mark on an annual basis.

Tech shares had a bearish day ahead of the earnings season as analysts raised concerns over the impact of a stronger won and lower chip prices on major exporters.

It's worth noting that market analysts expected to see a stronger quarterly performance from LG. Samsung is said to be working on a folding smartphone set ...

"It seems like [the company's] strategy to differentiate itself [from rivals] through premium products in the TV and home appliances segment successfully lent support to the improvement of sales and profitability", an industry insider said.

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