While Samsung's Mobile Division Nose Dived this Quarter, other Components gave Samsung a Solid Winning Quarter
While the numbers won't be final until the end of the month, Samsung is reporting today that they've had their best quarter in three years posting a 50 percent surge in quarterly operating profit after demand from Chinese smartphone brands pushed up memory chip prices and buoyed the unit that makes organic light-emitting diode screens.
Samsung is counting on its flagship Galaxy S line this year to fire up a beleaguered mobile division. The next iteration of the phone is said to feature a bezel-less display and voice-enabled digital assistant. But the company's also warned of slowing key markets and growing uncertainty around trade protectionism and currency fluctuations.
Obviously Samsung's profits didn't come from their mobile division due to their disastrous Note7 being pulled from the market. As Bloomberg reports, "Samsung's semiconductor division was probably its best performer in the fourth quarter on the back of stronger prices, lifting its shares to new highs in past weeks despite the company's challenges. Operating income from the chip business probably came to 4.5 trillion won in the quarter, according to the average of six analysts surveyed by Bloomberg, which would mark a record high.
The company's display division probably posted a profit of 1.1 trillion won. The proliferation of OLED screens should help in coming quarters: Apple is said to be planning to adopt the technology in at least one new iPhone later this year.
Earnings at the consumer electronics unit, which encompasses TVs and appliances, probably fell to 800 billion won because of rising panel prices, according to the analysts surveyed."