Tuesday, August 9, 2022
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

Samsung net profit increased 50% in Q4

AFPbyAFP
January 24, 2017, 8:28 pm
in Business
Reading Time: 2 mins read
A A
72
SHARES
Share on FacebookShare on TwitterShare on Email

SEOUL”•Samsung Electronics’ profits leaped in the fourth quarter, it said Tuesday, despite the humiliating Galaxy Note 7 recall that hammered the reputation of the world’s largest smartphone maker.

The South Korean tech giant took another blow when prosecutors began investigating its involvement in a corruption scandal, which has seen the country’s president impeached, and sought the arrest of the firm’s de facto leader Lee Jae-Yong.

In a statement, the group’s flagship subsidiary Samsung Electronics said it posted operating profits of 9.22 trillion won (US$7.9 billion) during the October-to-December period, up 50.2 percent year-on-year.

Net profits for the quarter were 7.09 trillion won, up 120 percent.

Earnings were “driven by the components businesses, mainly the memory business and the display panel segment,” it said, with the stronger US dollar also boosting profits.

ADVERTISEMENT

Analysts say memory chip prices have been driven up by stronger demand as Chinese smartphone makers release devices with high resolution cameras and bigger storage in a bid to catch up with Samsung and Apple.

As the market leader in multiple segments Samsung’s own chip division “is the biggest benefactor,” said Tom Kang, research director at Counterpoint Technology.

Samsung said it expected “huge growth” in the sector, and looking forward to 2017, Greg Roh, an analyst at HMC Investment Securities, told AFP: “We are expecting Samsung to post record-high profits this year on the back of rising chip prices.”

For the full year 2016, the firm said in a statement, “Samsung achieved solid results despite the Note 7 discontinuation in the second half”–the only reference to the debacle that saw the company withdraw its much-publicized device, originally intended to compete with Apple’s iPhone.

Samsung was forced to discontinue the Galaxy Note 7 in October after a chaotic recall that saw replacement devices also catching fire.

In total 3.1 million smartphones were recalled as authorities in the US and elsewhere banned them from use on planes and even from being placed in checked luggage.

Earlier this week Samsung blamed faulty batteries from two different suppliers for the incidents, which the firm previously estimated would cost it $5.3 billion.

Tags: Galaxy Note 7net profitSamsung Electronics
ADVERTISEMENT
AFP

AFP

Related Posts

Moody’s unit expects 8.8% GDP growth; agri contracts

byJulito G. Rada
August 8, 2022, 8:50 pm
0
151
BBM retains Teehankee as PH permanent envoy to WTO

The Philippine economy likely expanded by 8.8 percent in the second quarter, faster than the revised 8.2 percent in the...

Read more

Bloomberry back in the black, posts net profit of P2.5 billion

byJenniffer B. Austria
August 8, 2022, 8:45 pm
0
136

Casino resort operator Bloomberry Resorts Corp. said Monday net income reached P1.8 billion in the second quarter, a reversal of...

Read more

Dimalanta quits Aboitiz post after ERC designation

byAlena Mae S. Flores
August 8, 2022, 8:40 pm
0
154
Banaag assumes post as Bright Kindle director

Newly-appointed Energy Regulatory Commission chairperson Monalisa Dimalanta resigned from her post as the compliance officer of Aboitiz Power Corp. Aboitiz...

Read more

Pag-IBIG’s income jumped 27% to P20.48 billion in the first half

byManila Standard Business
August 8, 2022, 8:35 pm
0
136
Pag-IBIG virtual desks activated for OFWs

Pag-IBIG Fund posted earnings of P20.48 billion in the first half, up 27 percent from the same period last year,...

Read more

DITO files complaint with anti-trust body against rivals Smart and Globe

byDarwin G. Amojelar
August 8, 2022, 8:30 pm
0
169
DITO Telecom says business remains viable, sustainable

DITO Telecommunity Corp. said Monday it filed a complaint with the Philippine Competition Commission against Globe Telecom Inc. and Smart...

Read more

Stock market climbs; Ayala, Monde Nissin lead advances

byManila Standard Business
August 8, 2022, 8:25 pm
0
142
Stock market surges; PLDT, Globe advance

Stocks gained Monday ahead of the release of second-quarter GDP figures today, with most traders expecting a robust gross domestic...

Read more

Stories you may like

  • Zubiri new Senate President, vows to uphold chamber’s independence

    Marcos sees stronger PH-India relations

    5687 shares
    Share 2275 Tweet 1422
  • Showbiz icon Cherie Gil dies at 59

    2594 shares
    Share 1038 Tweet 649
  • Replevin and its common law origins

    1247 shares
    Share 499 Tweet 312
  • Fuel rollback next week, power rate cut in August

    1139 shares
    Share 456 Tweet 285
  • Getting into character: How the cast of ‘Maid in Malacañang’ prepared for their roles

    2684 shares
    Share 1074 Tweet 671

Print Edition

View More

Recent Posts

  • Sneakers for Makati : AB4.0
  • BBM warns of uncertain times
  • Nation bids farewell to former President Fidel V. Ramos
  • Taiwan holds anti-invasion drills as China restarts military exercises
  • Singapore PM: Storm gathering over Taiwan row
  • Consumers get big break from oil price rollback, Meralco rates cut
  • Omicron BA.5 ‘most predominant’ sub-variant of samples sequenced
  • PH unemployment rate holds steady

Advertisement

Latest News

Consumers get big break from oil price rollback, Meralco rates cut

byAlena Mae S. Flores
August 9, 2022, 1:00 am
0
138
Price rollback for kerosene, diesel but gas seen steady

Consumers buffeted by rising prices will get a breather this week as oil companies roll back pump prices by as...

Read more

Omicron BA.5 ‘most predominant’ sub-variant of samples sequenced

byWillie Casas
August 9, 2022, 12:50 am
0
147
Omicron BA.5 ‘most predominant’ sub-variant of samples sequenced

The current increase in COVID-19 cases may be attributed to the coronavirus Omicron BA.5 sub-variant, which now comprises about 85...

Read more

PH unemployment rate holds steady

byJulito G. Radaand1 others
August 9, 2022, 12:40 am
0
135
3 EU nations out warning on ‘Lucky Me!’

The country’s unemployment rate in June 2022 remained unchanged at 6 percent, the same rate a month ago, but significantly...

Read more

Garcia: Comelec ready for village, SK polls in Dec.

byManila Standard
August 9, 2022, 12:30 am
0
149
Comelec reminds poll bets: Follow June 8 deadline on expense report

Commission on Elections (Comelec) chairperson George Garcia said the poll regulator is prepared to conduct the 2022 Barangay and Sangguniang...

Read more

‘Dengue cases up 118% from same period last year’

byWillie Casasand1 others
August 9, 2022, 12:20 am
0
139
PH dengue fatalities highest in Asia

The Philippines logged 92,343 dengue cases from January 1 to July 23, 2022—a 118 percent increase compared to the cases...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App