Samsung's Chip Business Buoys Q4 Earnings Amid Flat CE Sales During Recall
Samsung’s chip business propped up earnings in Q4, offsetting flat CE sales hit by the Galaxy Note7 recalls and production shutdown in October. Overall sales hit 53.3 trillion Korean won (US $45.6 billion) in the quarter, with earnings of 7.1…
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trillion won ($6.1 billion), said the company's Tuesday earnings release. In mobile, operating profit grew to 2.5 trillion won ($2.1 billion) on sales of core smartphone products, while the S7 and S7 edge sales grew “slightly,” it said. Samsung predicts a slowdown in the smartphone market for 2017, “but new services such as AI [artificial intelligence] will become a new opportunity for differentiation,” it said.