 reported a 73 percent jump in profits for the fourth quarter, making the company the biggest chipmaker by revenue.){kind=link}
Samsung Electronics (KRX:005930) reported a 73 percent jump in profits for the fourth quarter, with the latest figures making the company the biggest chipmaker by revenue.
The group reported $69 billion in chip sales for the year, with performance aided by Apple’s order of the X’s OLED displays. The report included an operating profit of about 15.2 trillion Korean won for the quarter to December, with sales jumping 24 percent to 65.98 trillion won.
Samsung’s mobile division fared less well however, with the division seeing a fall in operating profit over the quarter from $2.3 billion to $2.25 billion. Seasonal marketing costs also weighed, despite an increase in shipments for its Galaxy Note 8.
The appreciation of the Korean won against the U.S. dollar and other major currencies also hand an impact on the quarter’s earnings, to the tune of approximately 660 billion Korean won quarter on quarter. A one-off incentive paid to employees of the semiconductor division also had an effect.
Shares in Samsung initially jumped on the news, but calmed to trade up just marginally at 2,495,000.00.