Samsung predicts 50 percent jump in fourth quarter 2016 operating profit



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South Korean giant, Samsung announced its earnings for the fourth quarter of 2016. The company has reported 50% profit surge in its fourth quarter due to its semiconductor and display businesses, despite the Note 7 debacle.


Samsung said it expected 9.2 trillion won ($7.2 billion approx.) in operating profit for the fourth quarter. On the other hand, the South Korean giant supplies memory chips and display panels to other companies including its rival Apple.

As per the report from IDC, Samsung’s smartphone market share was roughly 20% amid Note 7 issue and had a sharp 96% year on decline in operating profit in the third quarter for the smartphone business due to Note 7 recall.

Moreover, Samsung is yet to disclose the reason behind the explosion of the Galaxy Note 7 smartphone.

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