Advertisement

Samsung misses target for record profits for last quarter of 2017

Samsung Electronics expects to deliver record profits for the last three months of 2017, but the estimate missed analyst expectations.
 
The world's biggest memory chip maker forecast operating earnings of $14.1 billion, up 64 per cent from a year earlier.
 
But while chip prices boosted margins, a stronger won weighed on the figures.
 
The record guidance comes despite a corruption scandal engulfing top leadership at the South Korean firm.
 
The operating profit forecast is slightly below the amount estimated.
 
The forecast keeps Samsung on track for record annual profits, in a year when prices for computer memory chips kept surging.
 
But the 2018 outlook is less certain, with Samsung shares having fallen almost 10 per cent from their all-time high in November, as some investors bet on an end to the chip boom.


comments powered by Disqus
More Stories
Most Popular
Elderly couple murdered in St. Thomas
Trinidad and Tobago records economic benefit...
MBJ Airports signs US$40 million loan with...