Samsung has gone through some major losses over the last 2 years however the South Korean giant didn’t allow all bad factors to ruin its momentum as Samsung recorded a massive win in 2017 by getting a huge profit.
In 2017, the company made an operating profit of 53.6 trillion Korean won almost ($50 billion), and the shocking news is the margin of previous year are way up from the 29.2 trillion won ($27 billion) it made in 2016.
No doubt, it is massive win by company as $50 billion profits are huge achievement despite the the Note 7 specter and vice chairman being jailed over corruption.
Recently, Samsung has declared its Q4 2017 financial results, which trail the company’s accomplishment from October to by the end of December. Samsung profited $14 billion throughout Q4, upbeat from the $8.6 billion won profit in the same quarter in 2016.
Moreover, Samsung has also turned out to be the world’s largest chipmaker by profits beating Intel in its own play, after the declaration of Q4 financial results.
Must Read: ATMs are likely to close due to reforms while rural machines are expected to get some protection
According to Samsung, the main source of its growth was primarily due its components business, especially memory cards used in servers and mobile devices.
In the meantime, shipments for OLED screens have also greater than before, well here all thanks to Apple who is buying millions of screens for the iPhone X, despite the fact that profitability on LCD displays was bit down.
According to a company’s official announcement,
“The OLED panel business will strengthen its competitiveness in the premium segment with the release of foldable panels, and focus on expanding new applications in areas such as automotive electronics by capitalizing on its technology and cost competitiveness. Samsung will continue its efforts to differentiate its smartphones by adopting cutting-edge technologies, such as foldable OLED displays.”
However, this surely hints that a foldable smartphone projected Galaxy X might be launching in late 2018. For now, Samsung is projecting a boost in returns going into Q1 2018 following the launch of the most awaiting Galaxy S9 next month.
