Korean Economy News
Samsung Elec preliminary Q4 OP new high of $14bn, ’17 OP $50bn

By Lee Dong-in and Cho Jeehyun

Samsung Electronics refreshed record performance in the final quarter ended in December, delivering an operating profit of 15.1 trillion won ($14.1 billion) on sales of 66 trillion won as digitalization and automation continued to fuel mainstay chip demand, its preliminary earnings showed.

The world’s largest chipmaker in a disclosure statement Tuesday estimated its operating profit rose 3.9 percent from the previous record-high in the third quarter and 9.2 percent from a year ago.

For the full 2017, operating profit reached 53.6 trillion won, jumping 83.3 percent from 2016. Sales soared 18.7 percent to 239.6 trillion won.

Samsung Electronics shares finished Tuesday 3.11 percent down at 2,520,000 won as institutional players took profits on bets that the company would not perform as well as last year.

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