On January 4th, according to Reuters, Samsung Electronics will announce its fourth-quarter results on Friday. Analysts said that strong storage chip sales will offset the impact of the failure of Galaxy Note7, Samsung's fourth-quarter operating profit is expected to hit its highest point in nearly three years.
After some fire problems in Galaxy Note7, Samsung finally stopped selling the phone. Samsung not only suffers from the loss of revenue caused by the suspension of Galaxy Note7, but also bears the cost of the global recall. Samsung has issued a warning that its fourth-quarter profit will lose $2.1 billion.
However, analysts expect that the soaring sales of OLED screens for memory chips and smartphones will boost Samsung's fourth-quarter and full-year profit growth.
According to an average of 15 analysts surveyed by Thomson Reuters StarMine SmartEsTImate, Samsung’s fourth-quarter operating profit is likely to grow for the second consecutive quarter, reaching 8.4 trillion won ($7 billion), a 37% year-on-year increase. The highest point since the first quarter of 2014.
Investment company Eugene Investment predicted in the report that Samsung's semiconductor division operating profit in the fourth quarter is likely to soar to a record 4.5 trillion won, and last year's operating profit of 13.1 trillion won. At the same time, the Samsung chip division's profits will further increase, driven by stable demand. Hyundai Securities expects Samsung’s mobile operating profit in the fourth quarter to be 2.2 trillion won, unchanged from the same period last year, far higher than the 99 billion won in the third quarter.
Just before Friday's performance forecast, Samsung's share price reached a record high of 1.831 million won on Tuesday, up 43% last year, the biggest increase since 2012.
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