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LG Electronics turns operating profit in Q4

LG Electronics turns operating profit in Q4

Samsung Electronics said on Tuesday that it expects a 64 percent jump in fourth-quarter operating profit, taking the figure to a new record, but the guidance fell short of market expectations. For the October-December period of a year ago, the estimated operating profit of the Korean company is at 366.8 billion won, which is about $343 million. 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. It was estimated that operating profits would reach 471 billion won. Samsung is said to be working on a folding smartphone set ...

For the 12 months of 2017, Samsung predicted its operating profit would jump 83.3 percent to KRW 53.6 trillion.

Lee, who was found guilty in August of bribery, perjury and other charges relating to payments made by Samsung to ousted president Park Geun-Hye's secret confidante Choi Soon-Sil, is appealing his five-year sentence and says he is innocent.

Preliminary revenue for the December quarter advanced 23.8 percent over the year to 66 trillion won (61.9 billion USA dollars).

Samsung did not provide financial details for business divisions.

Tech shares had a bearish day ahead of the earnings season as analysts raised concerns over the impact of a stronger won and lower chip prices on major exporters.

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