Samsung announced Q4 and full year 2017 earnings

Samsung has announced that its consolidated revenue for the fourth quarter of 2017 was $61 billion and that its operating profit was $14 billion during Q4. The company also reported that its full-year revenue was $224 billion and the operating profit was $50 billion for the year. The Korean firm said Q4 earnings were driven by its components business, primarily memory.

In its announcement, Samsung said:

“Fourth quarter earnings were driven by the components business, with the largest contribution coming from the Memory business that manufactures DRAM and NAND, as orders for high-performance memory products for servers and mobile storage were strong.”

Aside from memory, Samsung also had a good quarter for OLED shipments, which increased. The firm also reported that premium products such as the Galaxy Note8 saw increased shipments. These two details show that demand for premium devices, with quality OLED screens, rather than LCDs, were more popular as the year topped off.

Low-end phones from Samsung saw a decrease in the number of shipments and so did LCD panels. Samsung is saying that lineup optimisation and weak seasonality are the causes of the decreased shipments, respectively.

In terms of domestic products such as appliances and TVs, Samsung had a good Q4. TV earnings increased quarter-on-quarter with premium offerings doing well, and home appliances saw stronger year-on-year revenue thanks to customers in North America and Europe seeking to purchase high-end washing machines and ovens.

As we go headlong into 2018, Samsung says it expects its memory business to continue doing well, meanwhile, the launch of its Galaxy S9 is expected to increase sales of smartphones for the company.

Source: Samsung

Report a problem with article
Next Article

Spotify releases 'Stations', all-new playlist-streaming app on Android

Previous Article

Facebook bans ads for cryptocurrencies, ICOs and binary options

Join the conversation!

Login or Sign Up to read and post a comment.

1 Comment - Add comment