Samsung Electronics posts $7.8 bn Q4 profit estimate

January 6, 2017 (3 weeks ago)
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Samsung was forced to order a massive recall of its Galaxy Note 7 smartphone last year after users reported several cases of the devices exploding/AFP

, SEOUL, South Korea, Dec 6 – Samsung Electronics on Friday posted a strong fourth-quarter profit estimate despite a fiasco with its flagship smartphone.

The world’s largest memory chip maker estimated its operating profit in the October-December period at 9.2 trillion won ($7.8 billion), up 49.8 percent from a year earlier.

Analysts predicted large sales of memory chips and smartphone screens would contribute to a strong surge in the company’s earnings growth despite a global recall of the Galaxy Note 7 smartphones.

Samsung was forced to order a massive recall of its Galaxy Note 7 smartphone last year after users reported several cases of the devices exploding.

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