Markets

Samsung flags record 4Q profit but misses expectations

Samsung flags record 4Q profit but misses expectations

SEOUL-Samsung Electronics Co. said fourth-quarter operating profit will be its highest ever, as the company benefits from strong demand for its electronics components. Contract prices for 32 gigabyte DRAM server modules almost doubled previous year while prices for 64 gigabit MLC NAND flash memory chips rose 55 percent in the same period, according to inSpectrum Tech Inc.

Investors didn't take the news so well, driving down Samsung's share price by 1.6 percent in early trading.

Samsung Electronics expects to deliver record profits for the last three months of 2017, but the estimate missed analyst expectations.

Revenue hit a new yearly high of 239.6 trillion won (224.8 billion USA dollars) in 2017, surpassing the previous high of 228.69 trillion won (214.5 billion US dollars) in 2013.




Samsung's profits were reportedly hit by a leveling off in prices for memory chips, which are its biggest earner and the main driving force behind its record earnings in the past two quarters, Bloomberg said. NAND flash memory chips, used in things like digital cameras and USB drives, have entered a down-cycle and some analysts believe DRAM market conditions also will soften later this year. 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.

Samsung in September had announced that it set up a strategic business unit for autonomous and advanced driver assistance services, together with a $300 million fund to invest in automotive start-ups and technology.

The company will break out divisional performance later this month along with final results.

South Korean exporters like Samsung will be keeping a close eye on the won in 2018.


  • AT&T Won't Offer Huawei's Flagship After All

    AT&T Won't Offer Huawei's Flagship After All

    It's unclear if Huawei will sell the Mate 10 unlocked online in the U.S. , or whether it'll enter talks with another U.S. carrier. Huawei's CES 2018 keynote is happening tomorrow, and it'll be interesting to see what the company has to say.
    Jags' Yannick Ngakoue Accuses Richie Incognito Of Using Racial Slurs

    Jags' Yannick Ngakoue Accuses Richie Incognito Of Using Racial Slurs

    The league will likely set up interviews with players from both teams in order to determine the validity of Ngakoue's claim. Incognito was accused of harassing Jonathan Martin in 2013 while the two were teammates with the Miami Dolphins .
    Why Twitter will never deactivate Donald Trump's account

    Why Twitter will never deactivate Donald Trump's account

    It is debatable whether Trump did in fact violate user policy on Twitter , but it has raised some important questions. A nonprofit group called Color of Change has announced a new effort to get Trump banned from Twitter .
  • Raiders giving 10-year deal to Gruden

    Raiders giving 10-year deal to Gruden

    While Gruden has clearly stayed around the game as a broadcaster on ESPN, he still hasn't been a head coach in the league since 2008.
    Airstrikes kill 17 civilians in Syrian rebel-held area, rescuers say

    Airstrikes kill 17 civilians in Syrian rebel-held area, rescuers say

    Protesters have been long demanding the resignation of Syrian President Bashar al-Assad over his autocratic rule. No group immediately claimed responsibility for the attack in the capital.
    Oprah Responds To Rumours She's Planning To Run For President

    Oprah Responds To Rumours She's Planning To Run For President

    Bring it on, the White House said Monday, welcoming a would-be battle against Oprah Winfrey for the presidency in 2020. It is in reference to a joke made during the monologue and not meant to be a political statement.
  • Xiaomi, Oculus announce new Mi VR headset at CES 2018

    Xiaomi, Oculus announce new Mi VR headset at CES 2018

    Hugo Bara, CEO of Oculus, didn't have anything more to say about the release date, but he said we could expect more details soon. The Oculus Go, which is a stripped-down version of the company's high-end Oculus Rift , was announced back in October 2017.
    Fire at Mumbai's chawl doused

    Fire at Mumbai's chawl doused

    And on December 29, 14 people, mostly young women, were killed in a fire at a trendy rooftop pub in Mumbai's Kamala Mills complex. After Investigation it was found a short circuit led to the fire. "Efforts are on to douse the flames", the official had said.
    Saudi detains 11 princes over protest in royal palace

    Saudi detains 11 princes over protest in royal palace

    The country plans to slash its generous welfare program and open energy giant Saudi Aramco to partial privatization. The government information service, the Centre for International Communication, said it was checking the report.
  • The Countdown To

    The Countdown To "Black Panther" Officially Begins With New TV Spot

    But the hero also has allies, including his brilliant scientist sister Shuri ( Letitia Wright ). He later draws his daggers, declaring, "I want your weapons, your secrets, it's all mine know".
    Australian gays say 'I do' as marriage reform kicks in

    Australian gays say 'I do' as marriage reform kicks in

    Same-sex weddings took place across Australia on Tuesday, as Australia celebrated its first official day of marriage equality . Athletes Craig Burns and Luke Sullivan married at a midnight ceremony near the east coast city of Tweed Heads.
    Princess Charlotte Looks Just Like the Queen in Her School Photo

    Princess Charlotte Looks Just Like the Queen in Her School Photo

    The school, which charges £14,550 ($19,740) per year, was classed as "outstanding" at the last official inspection in 2012. The young princess is wearing a scarf, coat and appears to have a backpack on as she is photographed by her mother.