Samsung had a really rough 2016 especially with the two times recall of Galaxy Note 7 that repeatedly caught fire. As the dust settled, Samsung downgraded its 2016 profit outlook from $7b to 5.2 trillion won ($4.63 billion) and it was expected seeing as it wasn’t going to be selling its phone at a time when Apple launched its iPhone 7 and Google launched Pixel.
But its fourth quarter profit was up 50 percent from a year earlier to its highest level in three years. It reported an operating profit of 9.2tr Won ($7.8b) versus 8.2 trillion won estimate and while analysts believe the depreciation in the South Korean currency may have contributed to this but nevertheless this comes a relief to investors even as rumours of a new Samsung Galaxy Note are all over the place. The profit is based on a strong sale of other Samsung products like the S7 and Galaxy Note as Samsung retained the top spot as the leading manufacturer of smartphones in 2016 with Apple coming in at a distant second place.
Samsung is known to operate in secrecy which analysts believe is one of the problems facing the company and if you’re asking why we don’t have a detailed report from the electronics maker, it’s because of secrecy but as par what they put out there, they made a profit. Samsung also makes TVs, household gadgets among others.
Paul Balo is the founder of TechBooky and a highly skilled wireless communications professional with a strong background in cloud computing, offering extensive experience in designing, implementing, and managing wireless communication systems.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
