Korean technology company Samsung’s fourth quarter resulted in a record profit, mainly thanks its chip division, where prices remain sky high.
Mobile division struggled
Based on preliminary results, Samsung already revealed it targeted a record fourth quarter profit. Its operational profit reached 15.2 trillion won (11.4 billion euro), which is 64 % higher than the year before. Its full-year profit should reach 53.6 trillion won (40 billion euro), even though the final financial results will only be revealed at a later date.
The majority of that record profit comes from its chip division and Samsung believes demand will maintain in 2018. The mobile division did not do as well in the fourth quarter, because it suffered a small operational loss, particularly because Samsung spent a lot more to market its smartphones.
Its fourth quarter turnover (65.98 trillion won – 49.7 billion euro) was also higher than last year’s fourth quarter (53.33 trillion won). For its full fiscal year, turnover grew from 201.87 trillion won to 239.58 trillion won (180 billion euro).
