Samsung Sees 64% Rise In Q4 Operating Profit

Samsung Sees 64% Rise In Q4 Operating Profit

The company projects operating profit of about 15.10 trillion Korean won in the fourth-quarter, compared to 9.22 trillion won reported past year. (LG) on January 8 announced its preliminary earnings results for the fourth quarter of 2017. Total annual sales of nearly KRW 61.4 trillion is expected to be 10.9 percent higher year-over-year and operating profit of KRW 2.4 trillion will see an increase of 84.5 percent over 2016, according to LG.

Sales were anticipated to have surged 23.8 percent to reach 66 trillion won over the cited period, it said.

Samsung said it expects its operating profits for the 2017 full year to hit 53.6 trillion won and to post full-year sales of 239.6 trillion won.

The outlook for smartphones and other mobile devices, which analysts expect to contribute about 17 percent to Samsung's fourth-quarter earnings, is also uncertain due to competition from Chinese rivals in markets like Europe and Asia, analysts said.

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"The revenue exceeded expectations; this means sales were good even considering won-dollar exchange rates".

LG did not offer a net profit estimate for the fourth quarter, nor breakdowns for each segment.

He said for 2018, LG Electronics is expected to maintain relatively sound returns on the back of the home appliances and TV businesses, although prospects for the handset division remain cloudy.

Samsung Electronics shares closed at 2.554 million won on Thursday, a 11 percent drop from its all-time high of 2.876 million won in early November.

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