April 20, 2024

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[THE INVESTOR] Tech giant Samsung Electronics said on Jan. 24 that its operating profit in the October-December period came in at 9.22 trillion won (US$7.92 billion), up 50.1 percent from a year earlier.

It posted 53.33 trillion won revenue in the fourth quarter, compared with 53.32 trillion in the same period in 2015.

The tech giant attributed the robust sales of memory chips and displays to the profit increase while the Galaxy S7 also contributed to the profit growth, making up for the absence of the recalled Galaxy Note 7.

The annual revenue stood at 201.87 trillion won, up from 200.65 trillion won in 2015, with the annual operating profit coming in at 29.24 trillion won, as against 26.41 trillion won in the previous year.

By breakdown, the device solutions division, which incorporates semiconductor and display panel business units, recorded 6.34 trillion won in operating income in the fourth quarter last year, up from 2.98 trillion won a year earlier. The division’s revenue in the fourth quarter increased from 19.74 trillion won in 2015 to 22.26 trillion won in sales in the fourth quarter last year.

The IT and mobile communications division, in charge of the smartphone business, posted 2.5 trillion won in operating profit in the last three months in 2016, up from 2.23 trillion won a year earlier, with its sales standing at 23.61 trillion won.

The consumer electronics division saw its operating profit drop from 360 billion won to 320 billion won during the same period while its sales stood at 13.64 trillion won.

Overall, the company recorded annual revenue of 201.87 trillion won, up from 200.65 trillion won in 2015, with its operating income coming in at 29.24 trillion won, up from 26.41 trillion won a year before.

By Kim Young-won (wone0102@heraldcorp.com)