Samsung’s Q4 Profit Increased by 50%, Driven by Chip and Screen Sales

Samsung has suffered a lot from the Galaxy Note 7 fiasco, and its profit for the third quarter of 2016 declined sharply by 96%. Fortunately, its robust memory chip sales has eased the pain of the costly failure of the flagship smartphone.

The South Korean firm is expected to report its best quarterly profit in nearly three years on Friday. The revenues of Samsung for the October-December period are likely to reach 53 trillion won,, and the operating profit could rise to 9.2 trillion won, showing an increase of 50% compared to the same period of last year.

Boosted by the growing selling prices of NAND and DRAM, Bloomberg reports that the chip business has contributed 4.5 trillion won of profit for the company. Additionally, smartphones are gradually turning to OLED displays, and Samsung has taken up 99% of market share in that.

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