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Samsung Electronics Reports Record High Operating Profit in 2017

Written: 2018-01-09 09:53:40Updated: 2018-01-09 13:53:49

Samsung Electronics Reports Record High Operating Profit in 2017

Samsung Electronics says its operating profit hit a record high of 53-point-six trillion won last year, up 83-point-three percent from a year earlier. 

The South Korean tech giant said in a regulatory filing on Tuesday that its sales also posted a record high of 239-point-six trillion won last year, up 18-point-seven percent. 

Its previous records were 228-point-six trillion won in sales and 36-point-79 trillion won in operating profit set in 2013. 

Samsung's operating profit to sales ratio also hit a record high 22-point-four percent last year. 

Samsung's sales marked 66 trillion won in the fourth quarter, up 23-point-eight percent, while its operating profit posted 15-point-one trillion won, up 63-point-eight percent.  

Both figures are record high quarterly results, but the operating profit was below market expectations by about 800 billion won. Analysts say a sharp fall in the exchange rate, which had a negative impact on Samsung's semiconductor and display businesses, and special bonuses in the fourth quarter dented the company's operating profit.

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