Samsung Announces An Expected 50% Rise In Operating Profits
Despite all the issues with the Galaxy Note 7, the company perseveres.
Samsung may have had some missteps in the past, but that isn't going to keep the company from turning a profit. In fact, Samsung announced that they predict a 50% rise in fourth-quarter operating profits in the year, even with all of the bad press and negativity surrounding the prior Galaxy Note 7 debacle. That's an impressive amount of growth.
In its regulatory filing, Samsung expressed its expectation of a consolidated operating profit for the October-December 2016 quarter to be 9.2 trillion won, which equates to about $7.8 billion, which is a far cry from the 6.14 trillion a year it had estimated prior.
Reuters reports that this number would be the highest profit figure the company has managed to report in three years, which is impressive any way you slice it. This kind of upward momentum is expected to continue all the way into 2017, along with a recovery effort for the company's fallen profits with its mobile business, given all the issues that came along with the Note 7's PR disaster. Of course, the Galaxy S8 series is due to be released in the second quarter of the year, so that will end up bolstering profits further.