Samsung Electronics posts biggest operating profit in 2017

Samsung Electronics profit guidance misses expectations as won weighs

During the October-December quarter, Samsung's operating profit hit a new quarterly high of 15.1 trillion won (14.2 billion USA dollars).

The company estimated operating profits of 15.1 trillion won ($14.1 billion) in the October to December period, an all-time high for quarterly profits and almost double the 9.2 trillion won posted a year earlier.

Sales were anticipated to have surged 23.8 percent to reach 66 trillion won over the cited period, it said.

For 2018, it has issued a tempered forecast: analysts predict computer chip prices to drop and there is some doubt about Samsung's smartphone division, because of increased Chinese competition. Full-year sales were expected to amount to KRW 239.6 trillion, up 18.7 percent from KRW 201.9 trillion in 2016, Samsung said.

According to the earnings guidance that was recently released, the last quarter of 2017 was a great one for Samsung. The tech giant is expected to elaborate on the results in its finalized report, which will be delivered later this month.

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Lee Seung-woo, a researcher at Eugene Investment and Securities, expected Samsung to continue with solid earnings in the first-quarter of this year, though the strong Korean won versus the US dollar could be a drag.

The mobile business, however, is presumed to have posted quarterly losses of around 200 billion won, analysts said, despite a slight improvement in the sales of the V30 and Q smartphones. It still did not meet analysts' expectations because they had targeted a 15.9 trillion won (12.5 billion euro) profit.

Shares of LG Electronics closed at 105,000 won on the main bourse Monday, down 5.41 percent from the previous session.

LG did not offer a net profit estimate for the fourth quarter, nor breakdowns for each segment.

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