Samsung had a great year after all
The Samsung’s 2016 plans and anticipations had to go through some changes due to Galaxy Note 7 frustration. The effects of the Note 7 crisis were clearly visible in the financial results of the company for the third quarter of 2016. However, Samsung seems to have taken important steps to eradicate the negative effects of Note 7 when it is over by 2016.
The South Korean company has not yet officially disclosed the financial results for the fourth quarter of 2016. However, the published official earnings guide shows that the company may have increased its earnings by 50 percent over the same period last year. It is stated that chip sales with high smart phone and the depreciation of Japanese yen may have played an active role in this increase.
Samsung has a $ 2.1 billion burden on the back of the recalling of Note 7. Therefore, the company’s income will decrease. Nonetheless, it is clear that expectations for Samsung’s fourth quarter is expected to come back faster than expected.
Memory chips and OLED displays are expected to compensate for the loss of profits that will result in intense demand. The chip unit’s operating profit could exceed $ 3.4 billion. Attention is drawn to the fact that sales of processor fabs made for Apple and top-class storage solutions are effective in reaching this figure.
Samsung’s 2016 operating profit for the last three months is expected to be $ 7.8 billion. This figure is the record for the last three years. Samsung will be able to hear official figures for the last quarter of last year at the end of the month.